Deals
Cisco to Buy Acano for $700 Million to Boost Conferencing
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Cisco Systems Inc. said it plans to buy Acano Ltd., a closely held London-based company that provides conferencing software, for $700 million as it seeks to bulk up in a fast-growing area of revenue growth.
The purchase will help Cisco deliver more video services in a market where only 10 percent of conference rooms in the world are currently connected, the company said in a statement. San Jose, California-based Cisco aims to take advantage of a “massive market shift” towards connecting via video from anywhere, including mobile phones.