Cisco Announces Intent to Acquire ThousandEyes, Inc.
Cisco has announced its intent to acquire digital experience and network monitoring vendor ThousandEyes, according to blog posts on ThosuandEyes and Cisco’s websites. Neither company revealed financial terms of the deal, but Bloomberg reported that the deal was supposedly around $1 billion. The acquisition is expected to close by the end of the first quarter of Cisco’s fiscal year 2021.
In Cisco’s official blog post on the annoucnement, Cisco Meraki’s Senior Vice President and General Manager Todd Nightingale wrote: “The ThousandEyes acquisition will enable deeper and broader visibility to pin-point deficiencies and improve the network and application performance across all networks your business relies on by enabling end-to-end visibility when accessing cloud applications. Internet Intelligence won’t just improve networking reliability, but end-to-end application experience. Embedding ThousandEyes technology into Cisco’s networking portfolio will give unprecedented intelligence on the largest deployed base of networking equipment in the world.”
ThousandEyes previously gained $50 million in Series D funding in February 2019 in a round led by GV, and has seen consistent growth over the past few years. One of the major reasons why Cisco eyed ThousandEyes is the vendor’s support and capabilities for AppDynamics’ application performance monitoring solution. Cisco acquired AppDynamics in 2017, and the company will add ThousandEyes’ AppDynamics support to its networking portfolio.
ThousandEyes’ CEO and Co-founder Mohit Lad stated in his company’s blog post: “From the beginning, our goal has been to empower customers to see the Internet and Cloud like it’s their own environment, and it has always been important to us that the people behind the product are just as valuable to our customers as the product itself. We want our customers to feel like ThousandEyes employees are an extension of their team, and are obsessed with making them successful. That culture of our commitment to innovate and continue to support every customer with the same fervor will stay the same as it has from day one.”