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Cisco to acquire cloud services company SolveDirect

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Deepa
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BANGALORE, INDIA: Cisco announced that it will acquire SolveDirect, a privately held company headquartered in Vienna, Austria that provides cloud-delivered services management integration software and services.

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"The move towards multi-sourcing and cloud services is accelerating the development of large ecosystems of companies - from enterprise IT and manufacturing, to SaaS providers - that need to share data in a secure and scalable way. Most of the interactions between these service partners today require manual effort, growing cost and complexity for an organization as their number of service partners grows," notes Hilton Romanski, VP and head, Corporate Business Development, Cisco in a blog post.

SolveDirect's cloud-based solutions offer enterprises and service providers a flexible way to integrate with service partners, and automate sharing of processes, data, and workflows in real-time by eliminating manual practices and bottlenecks, driving significant operational efficiencies, he added.

SolveDirect's capabilities will enable Cisco to extend its portfolio of IT services to global ecosystem of customers, partners and resellers.

The SolveDirect team will join the Cisco Services team, under the leadership of Mala Anand, senior vice president, Cisco Services Platforms Group. Under the terms of the agreement, Cisco will acquire all shares of SolveDirect. The acquisition is subject to various standard closing conditions and is expected to be complete in the fourth quarter of Cisco's fiscal year 2013.

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