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What Were Cisco’s Major Acquisitions in Fiscal 3Q16?

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Aug. 18 2020, Updated 5:14 a.m. ET

Acquisitions in fiscal 3Q16

In fiscal 3Q16, Cisco (CSCO) closed five acquisitions. It acquired Jasper Technologies, making Cisco the largest cloud-based IoT (Internet of Things) service platform, helping enterprises and service providers launch, manage, and monetize IoT services on a global scale. The total acquisition deal is valued at $1.4 billion in cash and assumed equity awards, plus retention.

Acano, another one of Cisco’s acquisitions, provides on-premise and cloud-based video infrastructure and collaboration software. This deal was valued at $700 million. Synate, another acquisition, was made to enable Cisco to deliver search capabilities for collaboration cloud applications. Cisco also acquired Leaba, a fabless semiconductor company.

The CFO of Cisco, Kelly Kramer, stated, “These acquisitions are clearly focused on our key growth areas including IOT, software cloud and collaboration as well as continuing to strengthen our core. We have also seen solid momentum with our Ericsson partnership closing 17 deals this quarter.”

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Other notable deals by Cisco

In November 2015, Cisco and Europe’s (EFA) Ericsson (ERIC) announced a strategic partnership wherein both companies could realize synergies of $1 billion by 2018.

In fiscal 2015, Cisco announced acquisitions of Lancope, OpenDNS, Portcullis, and ParStream to boost its position in the data analytics and video spaces. Cisco also acquired Clearleap, a video services company. Clearleap’s technology has been put to use by Time Warner’s (TWX) HBO, Sony Movie Channel, BBC America, Verizon (VZ), and Time Warner Cable (TWC).

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