Cisco has agreed to acquire AppDynamics for $3.7 billion in cash and assumed equity awards, scooping up the application performance management company just days before its expected initial public offering. The deal, which Cisco announced late Tuesday, is expected to close by the end of April.
AppDynamics was going to be the first tech company to go public in 2017, with its initial offering set for Thursday, January 26. Tech industry insiders and investors were watching AppDynamics’s IPO closely, because Wall Street investors’ treatment of its business could signal how other companies would fare later in 2017.
The company offers application performance management services, which provide companies with a dashboard showing how well the software they operate is working.
