In order to give its customers more insight into their application layers and drive the digital transformation for IT and business, Cisco announced its intent to acquire AppDynamics for US$3.7 billion.
AppDynamics, an application intelligence company, was supposed to be the first tech company to go public this year, according to a Wall Street Journal report. Early Tuesday, “bankers increased the IPO’s estimated price that would have valued AppDynamics at as high as about US$2 billion,” said the report.
One of the reasons for Cisco picking up AppDynamics is so the company can be well equipped to help its customers tackle some of the challenges IT departments are faced with today, according to vice president of corporate business development Rob Salvagno in a Cisco blog post .
(Related: Enterprises need that digital transformation )
“AppDynamics helps many of the world’s largest enterprises translate this data into business insights and empowers them to drive value for their customers in today’s digital world,” he wrote.
