Cisco eyes greater market share with $US700 million video conferencing acquisition
- 24 November, 2015 05:54
Cisco has announced its intent to acquire Acano Limited for $US700 million, a privately held company based in London that provides collaboration infrastructure and conferencing software.
Acano’s hardware and software includes gateways, and video and audio bridging technology that allows customers to connect video systems from multiple vendors across both cloud and hybrid environments.
According to the tech giant, this acquisition will accelerate Cisco’s collaboration strategy to deliver video everywhere, across every endpoint, every screen, every workspace, and to every user.
“People, companies and organisations are more geographically dispersed than ever before, and collaboration is essential to helping teams increase productivity and drive growth,” says Rob Salvagno, vice president, Corporate Development, Cisco.
“Acano’s innovations make it easier for customers to collaborate when, where and how they want. Together, we will help our customers to extend collaboration to every room, every screen and every user.”
The Acano team will join the Cisco Collaboration Technology Group led by Rowan Trollope, senior vice president and general manager with the acquisition expected to close in the third quarter of fiscal year 2016.
Salvagno says that today, less than 10 percent of the conference rooms in the world are connected via video.
However, there is a massive market shift underway in collaboration - customers want the ability to easily connect from anywhere, from dedicated hardware endpoints to sharing video on a mobile phone.
“Cisco’s collaboration business is already seeing the impact of this trend, with 17 percent year-over-year growth in the first quarter of fiscal year 2016,” Salvagno adds.
“As the momentum continues, there is a need to deliver solutions that will connect any system, regardless of vendor, at a scale that is dramatically higher than ever before.
“Acano’s technology and expertise will enable us to accelerate our development in the key areas of interoperability and scalability.”