Cisco To Acquire Software Maker ClearAccess
SAN JOSE, Calif. (AP) — Cisco Systems Inc. said on Wednesday that it plans to acquire ClearAccess, a privately held maker of software for Internet service providers, to broaden network management tools for homes and mobile devices.
Cisco is the world's largest maker of computer networking equipment.
Financial terms were not disclosed. The transaction is expected to be completed in Cisco's fiscal fourth quarter, which ends in July.
ClearAccess, based in Vancouver, Wash., provides software to help service providers manage home networks, as they grow more complex with heavier data and video traffic and connected mobile devices. Cisco said ClearAccess will supplement Cisco Prime, its network management software.
"ClearAccess provides a critical technology that will advance Cisco's mission to offer service providers a complete set of tools to manage their networks, within the home and across any connected device, amid the ongoing proliferation in network traffic," said Jamie Lerner, a vice president and general manager with Cisco's Network Management Technology Group.
Shares of San Jose, Calif.-based Cisco dipped 5 cents to $20.86 in midday trading Wednesday.