Cisco Systems Inc. on Tuesday announced a deal to buy privately
held MaintenanceNet for $139 million, the latest acquisition for
the network giant.
Carlsbad, Calif.-based MaintenanceNet, which was founded in
2004, operates a cloud-based platform that uses data analytics to
help automate sales processes.
The companies have partnered since 2009, whereby
MaintenanceNet's software alerts Cisco clients to service contracts
that are coming up for renewal or overdue and enables automated
quoting and online ordering.
In a blog post, Cisco said MaintenanceNet will join its global
customer success organization and called the ability to easily
track and manage contracts "critical" as more information
technology business models shift to a recurring revenue model for
products and services.
Cisco said it expects to complete the acquisition in the first
quarter of its 2016 business year and will pay cash and
retention-based bonuses.
The deal follows a $635 million purchase last week of network
security company OpenDNS as well as recent acquisitions of Piston
Cloud Computing and Tropo, among others.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
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