Blogger Greg Ferro first mentioned a rumor about Cisco and Meraki early this morning, speculating they might announce a deal later this week. However, TechCrunch can confirm the purchase and the price tag.
For those unfamiliar, Meraki began as a research project at MIT in It provides mid to large-size companies, schools, and organizations with on-premise mesh Wi-Fi networking and security devices plus the software to manage them. The tech makes it easy and affordable to run a powerful cloud network without a bulky IT department.
Earlier this year, an industry source leaked me financial data on Meraki from an all-hands meeting. General Partner Douglas Leone explains that it took a shaky year for Meraki to decide to concentrate on the small to medium enterprise market, but it really took off once it released software that let IT teams fix problems from home. Meraki will continue supporting its existing hardware, services, and customers as well as building new products and features. It had to face nimble competitors like Aruba Networks and Aerohive which might now look like attractive buys , so it raised money fast to fan its wildfire growth and hit 20, customers.
And now, rather than risk dealing with fickle Wall Street investors, it took a mammoth cash buyout. Congrats to these scrappy lads from MIT. We scored this photo of him explaining how the company will retain its identity and still have an SF office. Immediately after, some much deserved champagne was popped. As some of you may have heard through Twitter or Google Alerts, there is a rumor out that Cisco intends to acquire Meraki. Our original plan had been to break the news to everyone tomorrow before it was officially announced, but it looks like social media beat us to it!
Given this is a big deal, both literally and figuratively, I wanted to take a few minutes to provide some more context about the upcoming announcement. Oso is a batteries-included library for building authorization in your application. Otter matches parents who need childcare with stay at home parents who can care for their kids.
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