Mergers and Acquistions News
Categories: Software
August 30th 2011, 12:12PM
Cisco has announced it has made an investment in privately-held San Francisco-based firm Versly.
It revealed yesterday (August 29th) that it has acquired the company, the employees of which will be integrated into Cisco's existing workforce.
Mergers are a priority for the IT solutions provider and it believes this latest acquisition will enable it to enhance collaboration provisions for consumers.
Versly uses a Microsoft Office application plug-in to integrate collaboration capabilities, thus enabling people to work in a more effective manner.
Murali Sitaram, vice-president and general manager of the Collaboration Software Group at Cisco, said that "the integration with Versly will drive productivity improvements for organisations and their knowledge workers, many of whom are among the 600 million Microsoft Office users".
He added that the new deal will also improve customer experience.
Reuters noted that following the announcement, Cisco shares increased by nearly two per cent to reach $15.60 (£9.55) in late morning trade on the Nasdaq index.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)