Cisco Acquires Israeli Cellular Network Software Developer

Cisco is looking to boost its software sales

   

Cisco (NASDAQ:CSCO) announced on Wednesday that it has agreed to purchase Intucell, a software developer based in Israel.

The networking equipment giant will pay $475 million for the maker of software used to manage cellular networks. The acquisition is expected to be completed later this year, the Wall Street Journal notes.

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Intucell’s clients include U.S. wireless communications provider AT&T (NYSE:T). The company recently received a $6 million investment from venture capital firm Bessemer Venture Partners in January 2011. Bessermer’s interest in the company is currently valued at $230 million.

Cisco has acquired nine software or service companies in recent years as it looks to double its software revenue over the coming five years. In November, Cisco paid $1.2 billion to acquire WiFi gear-maker Meraki.

Shares of Cisco slipped fractionally in Wednesday afternoon trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/01/cisco-acquires-israeli-cellular-network-software-developer/.

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