Cisco said it wants to acquire Acano, a privately held company based in London that provides collaboration infrastructure and conferencing software, for USD 700 million in cash and equity. There will also be additional retention based incentives for Acano employees who join Cisco.
Acano’s hardware and software includes gateways, and video and audio bridging technology that allows customers to connect video systems from multiple vendors across both cloud and hybrid environments. The deal will accelerate Cisco’s collaboration strategy to deliver video everywhere, to every endpoint, screen, workspace, and user.
The Acano team will join the Cisco Collaboration Technology Group led by Rowan Trollope, senior VP and general manager. The acquisition is expected to close in the third quarter of fiscal year 2016, subject to customary closing conditions including a regulatory review.