SAN JOSE, Calif. – May 28, 2020 – Cisco (NASDAQ: CSCO) today announced its intent to acquire privately held ThousandEyes, Inc. headquartered in San Francisco, CA. ThousandEyes’ Internet and Cloud intelligence platform delivers deep visibility and insights into the digital delivery of applications and services over the Internet.
The last few years have seen a rapid acceleration of Cloud adoption, widespread use of SaaS applications, and a reliance on the Internet and networks outside of enterprise control. This increased dependence on the Internet and other third-party infrastructures, compounded over the past several months during the COVID-19 pandemic, substantially reduces the ability for enterprise IT teams to predict, visualize and control operational behavior. The result is often a chaotic and unmanageable IT environment that makes issue resolution a time-consuming ordeal that can potentially have a massive impact on customer experience, brand reputation and revenue.
By bringing together Cisco’s strength in network and application performance with ThousandEyes’ visibility into the Internet, customers will now have an end-to-end view into the digital delivery of applications and services over the Internet, allowing them to pinpoint deficiencies and improve network and application performance across enterprise and cloud networks. This acquisition will also empower enterprises to accelerate their digital transformation, no matter where they are in their journey, by delivering comprehensive visibility into applications and services delivered to customers and employees.
“I’m excited to welcome the ThousandEyes team to Cisco,” said Todd Nightingale, senior vice president and general manager, Cisco Enterprise Networking and Cloud. “The combination of Cisco and ThousandEyes will enable deeper and broader visibility to pin-point deficiencies and improve the network and application performance across all networks. This will give customers end-to-end visibility when accessing cloud applications, and Internet Intelligence will improve networking reliability and the overall application experience.”
Cisco will incorporate ThousandEyes’ capabilities across Cisco’s core Enterprise Networking and Cloud, and AppDynamics portfolios to enhance visibility across the enterprise, internet and the cloud. The acquisition is expected to close before the end of Cisco’s Q1 FY’21. ThousandEyes will join Cisco's newly-formed Networking Services business unit, reporting to Todd Nightingale.
As part of the Networking Services business unit, ThousandEyes CEO and co-founder Mohit Lad will take on the role of GM of ThousandEyes, and Co-Founder, CTO Ricardo Oliveira will continue to drive ThousandEyes product vision and innovation strategy.
Cisco will host a Media and Industry Analysts Q&A with Derek Idemoto, senior vice president of Cisco Corporate Development and Cisco Investments, Todd Nightingale, Cisco senior vice president and general manager, Enterprise Networking and Cloud, and Mohit Lad, ThousandEyes co-founder and CEO on Thursday, May 28 at 2:30 PM PT. Click here to join.
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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 the acquisition enhancing Cisco’s network performance and monitoring capabilities across the enterprise and into the cloud, the expected completion of the acquisition and the timeframe in which this will occur, the expected benefits to Cisco and its customers from completing the acquisition, and plans regarding ThousandEyes personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, that conditions to the closing of the transaction may not be satisfied, the potential impact on the business of ThousandEyes due to the uncertainty about the acquisition, the retention of employees of ThousandEyes and the ability of Cisco to successfully integrate ThousandEyes 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. 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.
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