Cisco on Tuesday said it is planning to pay $3.7 billion to acquire AppDynamics, a provider of cloud application and business monitoring technology.
The combination of Cisco and AppDynamics is aimed at giving customers intelligent and actionable insights to help speed up business decisions and improve business performance, Cisco said.
The acquisition announcement comes just at the IT industry was looking forward to an expected AppDynamics IPO.
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The AppDynamics acquisition is slated to close in Cisco’s third fiscal 2017 quarter. It is slated to become a new business unit under Rowan Trollope, senior vice president and general manager for Cisco’s IoT and applications business. The division is expected to be led by current AppDynamics CEO David Wadhwani.
