Cisco Announces Intent to Acquire Springpath | The Network
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`AUGUST 21, 2017
`SAN JOSE, Calif. – August 21, 2017 – Cisco (NASDAQ:CSCO)
`announced today its intent to acquire Springpath, Inc., a Sunnyvale-
`based leader in hyperconvergence software. Springpath has
`developed a distributed file system purpose-built for
`hyperconvergence that enables server-based storage systems. The
`acquisition will allow Cisco to continue to deliver next-generation data
`center innovation to its customers.
`
`Cisco Announces Intent to
`Acquire Springpath
`
`The acquisition is the culmination of a long-standing strategic relationship between Cisco and Springpath.
`The companies have worked together since early 2016 to launch HyperFlex, the industry's first fully
`integrated hyperconverged infrastructure system. Since then, they have fully aligned on product
`development and go-to-market strategies. This acquisition will allow Cisco to continue to grow its computin
`business, enabling more customers to realize the benefits of simple and economic software-defined
`infrastructure.
`
`"This acquisition is a meaningful addition to our data center portfolio and aligns with our overall transition to
`providing more software-centric solutions," said Rob Salvagno, Cisco vice president, Corporate Business
`Development. "Springpath's file system technology was built specifically for hyperconvergence, which we
`believe will deliver sustainable differentiation in this fast-growing segment. I'm excited to be able to provide
`our customers and partners with the simplicity and agility they need in data center innovation."
`
`Cisco will acquire Springpath for $320 million in cash and assumed equity awards, plus additional retention
`based incentives. The acquisition is expected to close in Cisco's first quarter of fiscal year 2018, following
`customary closing conditions and regulatory review.
`
`Learn more:
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`Cisco Announces Intent to Acquire Springpath | The Network
`
`https://newsroom.cisco.com/press-release-content?type=webcontent&arti...
`
`Read the blog about the Springpath acquisition from Cisco's Head of Corporate Development
`
`Read Liz Centoni's blog on "Taking a Leap Forward" in Hyperconvergence
`
`About Cisco
`
`Cisco (NASDAQ: CSCO) is the worldwide technology leader that has been making the Internet work since
`1984. Our people, products and partners help society securely connect and seize tomorrow's digital
`opportunity today. Discover more at thenetwork.cisco.com and follow us on Twitter at @Cisco.
`
`Forward-Looking Statements
`
`###
`
`This press release may be deemed to contain forward-looking statements, which are subject to the safe
`harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding th
`acquisition supporting Cisco's transition toward software-centric solutions, the acquisition allowing Cisco to
`continue to deliver next-generation data center innovation to its customers, the acquisition allowing Cisco to
`continue to grow its computing business, enabling more customers to realize the benefits of simple and
`economic software-defined infrastructure, Springpath's file system technology delivering sustainable
`differentiation in the fast-growing hyperconvergence segment, the expected benefits to Cisco and its
`customers from completing the acquisition, and plans regarding Springpath personnel. Readers are
`cautioned that these forward-looking statements are only predictions and may differ materially from actual
`future events or results due a variety of factors, including, among other things, obtaining regulatory approva
`of the acquisition or that other conditions to the closing of the transaction may not be satisfied, the potentia
`impact on the business of Springpath due to the uncertainty about the acquisition, the retention of
`employees of Springpath and the ability of Cisco to successfully integrate Springpath and to achieve
`expected benefits, business and economic conditions and growth trends in the networking industry,
`customer markets and various geographic regions, global economic conditions and uncertainties in the
`geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10-K and
`Form 10-Q. Any forward-looking statements in this release are based on limited information currently
`available to Cisco, which is subject to change, and Cisco will not necessarily update the information.
`
`+1 408-853-9848
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`rojenkin@cisco.com
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`+1 408 527 6538
`
`carolv@cisco.com
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`Cisco Announces Intent to Acquire Springpath | The Network
`
`https://newsroom.cisco.com/press-release-content?type=webcontent&arti...
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