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Cisco Plans To Acquire Springpath

Cisco (CSCO) said that it plans to acquire Springpath Inc., a Sunnyvale-based leader in hyperconvergence softwarem, for $320 million in cash and assumed equity awards, plus additional retention-based incentives.

Springpath has developed a distributed file system purpose-built for hyperconvergence that enables server-based storage systems.

The acquisition is expected to close in Cisco's first quarter of fiscal year 2018, following customary closing conditions and regulatory review.

by RTTNews Staff Writer

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