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MENAFN - 19/11/2012

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(MENAFN) Cisco Systems Inc., announced that it will pay USD1.2 billion to acquire San Francisco-based Meraki Inc. to expand cloud computing, reported AP.

The world's largest manufacturer of computer networking gear said that Meraki, led by its CEO Sanjit Biswas, will set up Cisco's new Cloud Networking group.

The San Jose, California-based firm, which bought Cloupia last week for USD125 million, added that the purchase price of Meraki consists of cash and retention-based incentives.

Meraki technology provides customers with Wi-Fi, switching, security and mobile device management centrally managed from the cloud.

It is worth noting that Cloud computing refers to the growing popular practice of storing software applications in remote data centers, which are accessed over the internet instead of installing programs on individual machines.

 






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