JOIN US US-based networking giant Cisco on Wednesday announced that it will pay $610 million in cash to acquire Viptela, a startup owned by an Indian-origin software industry veteran.
Viptela, a privately held software-defined wide area network (SD-WAN) company, is based in San Jose and owned by CEO Praveen Akkiraju, a University of Madras and Harvard Business School alumnus.
The startup offers the way for companies to connect remote offices to their corporate networks using Viptela’s router and software hosted in the cloud.
Viptela was founded in 2012 by former Cisco engineers, some of them hailing from the Indian sub-continent.
Cisco will buy Viptela for $610 million in cash and assumed equity awards and the acquisition were expected to close in the second half of 2017 after the completion of the customary closing conditions and regulatory review.
DH News Service