Cisco completes acquisition of Springpath
Cisco announced that it has completed its acquisition of Springpath. Springpath has developed a distributed file system purpose-built for hyperconvergence that enables server-based storage systems. The acquisition allows Cisco to continue to deliver next-generation data center innovation to its customers, and aligns with its overall transition to providing more software-centric solutions. Cisco's acquisition of Springpath is the culmination of the long-standing strategic relationship between the two companies, having worked together since 2016 to launch and deliver HyperFlex, the industry's first fully integrated hyperconverged infrastructure system. The acquisition will allow Cisco to continue to grow its computing business, enabling more customers to realize the benefits of simple and economic software-defined infrastructure. As part of Cisco, it will serve as a meaningful addition to Cisco's data center portfolio and will help Cisco provide simplicity and agility to its data center customers. Cisco acquired Springpath for $320M in cash and assumed equity awards, plus additional retention-based incentives.