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Cisco to buy collaboration company Acano for $700 million
London-based Acano makes technology that connects video systems
Cisco Systems Inc. said Friday it agreed to buy privately held conferencing software company Acano Ltd. for $700 million, a move by the network giant to grow its collaboration business.
The cash deal is expected to be completed in Cisco's quarter ending April 30.
Cisco CSCO, +1.17% based in San Jose, Calif., sells routing and switching systems that companies use to handle Internet traffic and move information within corporate data centers. But the company has also been moving to grow other businesses, including collaboration and security software.
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