Cisco To Aquire ThousandEyes in $1B Deal

Issue 21

06.01.20 - Cisco has announced it is buying network intelligence company ThousandEyes, which has raised over $110 million in private funding with early backers including Sequoia Capital and Sutter Hill Ventures.

While the San Jose, California-based tech giant did not disclose how much it is paying for the company, CNBC pegs the amount at “about $1 billion.”

San Francisco-based ThousandEyes describes itself as “Google Maps for the Internet.”
The startup aims to help IT teams see what’s braking or slowing down the paths that their websites, applications or services take to get to their end users, so they can either reroute or get the problem fixed before it impacts their customers.

“Whenever a SaaS application or service goes down or slows down, every minute counts for IT teams to figure out what’s going on before customers start complaining, or worse, going to a competitive service,” ThousandEyes CEO and co-founder Mohit Lad, wrote me via email in 2019. “ThousandEyes helps IT teams ‘see’ into the Internet and cloud to identify the problem immediately, meaning they’re spending their time getting the issue fixed, rather than spending time trying to find what’s wrong.” Its customers span a variety of industries and include Slack, Lyft, US Bank, eBay, Box, H&R Block and MasterCard.

This is one of the larger forward-thinking acquisitions in the industry and will help continue to keep Cisco dynamic. In a blog post, Cisco’s Senior Vice President and General Manager Todd Nightingale wrote: “ThousandEyes provides Internet intelligence at a scale and accuracy never seen before. In a time when every meeting is held and every document is shared through connected applications, the need for ThousandEyes technology has never been so high.”

In a statement, Cisco said it will incorporate ThousandEyes’ capabilities across its core Enterprise Networking and Cloud, and AppDynamics portfolios “to enhance visibility across the enterprise, internet, and the cloud.

Source: CNBC