SAN JOSE, CA -- (Marketwired) -- 01/24/17 -- Cisco (NASDAQ: CSCO) announced today its intent to acquire AppDynamics, Inc., a privately held application intelligence software company based in San Francisco. AppDynamics's cloud application and business monitoring platform enables the world's largest companies to improve application and business performance. Cisco will acquire AppDynamics for approximately $3.7 billion in cash and assumed equity awards.
"Applications have become the lifeblood of a company's success. Keeping those apps running and performing well has never been more important. Unfortunately, that job has only gotten harder, as IT departments and developers struggle with a tangled web of disconnected, complex data that's hard to understand," said Rowan Trollope, Cisco senior vice president and general manager of Cisco's Internet of Things and Applications Business Group. "The combination of Cisco and AppDynamics will allow us to provide end to end visibility and intelligence from the network through to the application; which, combined with security and scale, and help IT to drive a new level of business results."
"AppDynamics is empowering companies to build and successfully run the applications they need to compete in today's digital world," said David Wadhwani, AppDynamics CEO and president. "With digital transformation, companies must re-define their relationships with customers through software. We're excited to join Cisco, as it will enable us to help more companies around the globe."
In this digital economy, the application is the business and applications drive business outcomes. But as things get simpler for consumers, they get more complex for companies trying to stay ahead of rising customer expectations. Together AppDynamics and Cisco will provide customers with intelligent and actionable insights, helping them make speedy business decisions and improve business performance.
AppDynamics will continue to be a led by CEO David Wadhwani as a new software business unit in Cisco's IoT and Applications business, reporting to Rowan Trollope. The acquisition is expected to close in Cisco's third quarter of fiscal year 2017, subject to customary closing conditions.
For more information about Cisco's intent to acquire AppDynamics, please visit our blog.
Cisco (NASDAQ: CSCO) is the worldwide technology leader that has been making the Internet work since 1984. Our people, products, and partners help society securely connect and seize tomorrow's digital opportunity today. Discover more at newsroom.cisco.com and follow us on Twitter at @Cisco.
RSS Feed for Cisco: http://newsroom.cisco.com/rss-feeds
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding providing end to end visibility and intelligence from the network through to the application which, combined with security and scale, will help drive a new level of business results, driving success for even more companies around the globe, providing intelligent and actionable insights,, the expected completion of the acquisition and the time frame in which this will occur, the expected benefits to Cisco and its customers from completing the acquisition, and plans regarding AppDynamics personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due a variety of factors, including, among other things, obtaining regulatory approval of the acquisition or that other conditions to the closing of the transaction may not be satisfied, the potential impact on the business of AppDynamics due to the uncertainty about the acquisition, the retention of employees of AppDynamics and the ability of Cisco to successfully integrate AppDynamics and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q filed on September 8, 2016 and November 22, 2016, respectively. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.
+1 408 853 9848
Industry Analyst Contact:
+1 408 526 6493
Investor Relations Contact:
+1 408 527 6538