Cisco ( CSCO ) said that it plans to acquire Springpath Inc., a Sunnyvale-based leader in hyperconvergence software, for $320 million in cash and assumed equity awards, plus additional retention-based incentives.
Springpath has developed a distributed file system purpose-built for hyperconvergence that enables server-based storage systems.
The acquisition is expected to close in Cisco's first quarter of fiscal year 2018, following customary closing conditions and regulatory review.
By: RTT News.
Photo: Business Wire.
Review: Emerging Market Formulations & Research Unit, Flagship Records.