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CommentsCisco Systems, Inc., announced a definitive agreement to acquire privately held Sheer Networks of San Jose, Calif. Sheer Networks is a pioneer in the development of intelligent network and service management products for service providers and large enterprises.
Under the terms of the agreement, Cisco will pay approximately $97 million in cash and assumed options for Sheer Networks. In addition, the acquisition price may be increased by as much as $25 million depending on the degree to which certain development and product milestones are met after close.
"We are continuously investing in our business to meet our customers' needs and the Sheer Networks acquisition will strengthen our ability to provide innovative and effective network management solutions," said Cliff Meltzer, senior vice president for Cisco's Network Management Technology Group.
Sheer's virtual network model hides the complexity of physical networks in a way that makes them accessible to a variety of management applications. This Dynamic Network Abstraction layer makes them transparent and accessible to a broad range of management applications.
Building on the Sheer Networks technology and platform, Cisco will develop and sell device, network and service-level management applications enabling intelligent management across multi-vendor networks and network-based services.
Upon close of the acquisition, the Sheer Networks team will report into the Network Management Technology Group headed by Cliff Meltzer, senior vice president. Sheer Networks was founded in 1999 and has 100 employees in San Jose, Calif. and Petach Tikva, Israel.
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