Cisco Snags Enterprise Solutions Providers
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Cisco (CSCO) will issue common stock for all outstanding shares, warrants and options of Altiga and Compatible.
Altiga's 76 employees will be led by Altiga Chief Executive Officer Mark Freitas and will become part of the enterprise line of business. Compatible's 68 employees will be led by Compatible Chief Executive Officer Matt McConnell and will become part of the service provider line of business.
Cisco made the buys to expand its New World Virtual Private Networks department by providing enterprise and service provider customers with industry-leading remote access and extranet solutions.
Altiga specializes in integrated VPN solutions for remote access applications. Its product suite will complement Cisco's existing family of VPN routers and security appliances.
Compatible develops standards-based, reliable and scalable VPN solutions for service provider networks. Its platform enables service providers to deploy IPSec architectures for VPN services.
The acquisitions come a day after California-based Cisco bought a 580-acre campus in Massachsuetts to boost its power in New England. The campus, in like fashion to college campuses in Massachusetts, will have three separate arms in Boxborough, Littleton and Harvard. The combined sites could employ an estimated 5,000 new employees.