- Cisco Systems Inc CSCO intends to acquire Israeli application monitoring company Epsagon. The value of the deal totals $500 million, Globes reports.
- Epsagon, founded by its CEO Nitzan Shapira and CTO Ran Ribenzaft, has offices in New York and Tel Aviv.
- Cisco expects Epsagon to play a vital role in expanding and accelerating its Full-Stack Observability roadmap.
- The Epsagon team will join Cisco's Strategy, Incubation and Applications group following the acquisition closing.
- Cisco held $23.6 billion in cash and equivalents as of May 1.
- Price Action: CSCO shares traded higher by 0.09% at $56.44.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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