On Thursday Morning, Cisco announced their plans to acquire Cariden Technologies for approximately $141 million in cash.
According to PCMAG, Cariden, a network traffic-management software maker, is based in Sunnyvale, California. The company was founded in 2001 and it makes software to help telecom service providers to manage their networks more efficiently. Cariden employees will be integrated into Cisco's service provider networking group unit after the deal is completed, which is expected to be in the second quarter of Cisco's fiscal year 2013.
According to CIO Today, Surya Panditi, senior vice president and general manager of Cisco's Service Provider Networking Group, said that the acquisition reinforces Cisco's commitment to offer technologies that service providers need to optimize, as well as monetize their networks.
According to ZDNET, Cisco's acquisition of Cariden marks the third major acquisition in November. Cisco also purchased Cloupia for $125 million, and the company also bought Meraki for $1.2 billion.
Cisco's shares were slightly up in pre-marketing trading by 0.53 percent above their market closing price on Wednesday.