Cisco buys video conferencing firm Acano

AcanoCisco has agreed to buy online audio and video conferencing company Acano for US$700 million in a bid to accelerate its strategy to “deliver video everywhere”.

Acano’s online collaboration platform lets users conduct audio and video meetings and its hardware and software includes gateways, and video and audio bridging technology.

Cisco said the deal will help it to deliver video everywhere and provide “the best collaboration experience across every endpoint, every screen, every workspace, and to every user.”

“People, companies and organisations are more geographically dispersed than ever before, and collaboration is essential to helping teams increase productivity and drive growth,” said Rob Salvagno, vice president, Cisco Corporate Development.

“Acano’s innovations make it easier for customers to collaborate when, where and how they want. Together, we will help our customers to extend collaboration to every room, every screen and every user.”

The Acano team will join the Cisco Collaboration Technology Group. Under the terms of the agreement, Cisco will pay US$700 million in cash and assumed equity awards, plus additional retention-based incentives for Acano employees who join Cisco.

The deal is expected to close in the third quarter of fiscal year 2016, subject to closing conditions and regulatory review.