Cisco Systems (CSCO) continued its recent software acquisition binge, announcing early Tuesday an agreement to acquire Whiptail, a maker of solid-state memory systems, for $415 million.
Cisco, the No. 1 maker of computer networking equipment, has been snapping up software companies over the past year or so to offset slowing hardware sales. Enterprises are moving toward more cloud computing systems, storing apps and data in distant data centers that they access via the Internet “cloud.”
In July, Cisco announced plans to acquire security software maker Sourcefire (FIRE) for $2.7 billion.
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