Cisco buying Israeli cloud tech firm for reported $500M

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Cisco (NASDAQ: CSCO) is in the process of acquiring the Israeli firm Epsagon, developer of a cloud application performance monitoring platform, according to a statement published on the Cisco website by Cisco executive Liz Centoni.

She is Cisco’s senior vice president, chief strategy officer and general manager of applications.

The deal is for $500 million, reported news site Globes.

Epsagon has offices in Tel Aviv, Israel, and in New York City and was named by Gartner as a “Cool Vendor in Performance Analysis“.

“Epsagon will play a key role in expanding and accelerating Cisco’s comprehensive Full-Stack Observability roadmap,” Centoni wrote.  As applications have become a central part of everyday life, the complexity of IT infrastructure has increased, Centoni explained.

“Epsagon’s technology and talent align well with Cisco’s vision to enable enterprises to deliver unmatched application experiences through industry-leading solutions with deep business context,” she added.  “By contextualizing and correlating visibility and insights across the full stack, teams can improve collaboration to better understand their systems, solve issues quickly, optimize and secure application experiences and delight their customers.”

Globes reported that Epsagon, which was founded in January 2018 by Nitzan Shapira and Ran Ribenzaft, has increased its workforce to 60 people.  Centoni shared in a statement that the acquired company and its team will become a part of Cisco’s strategy, incubation and applications group when the deal closes.

Original Source: WRAL TechWire