Cisco Expanding Analytics with ParaStream Acquisition
Yet another acquisition for Cisco as move towards IoT continues.
Cisco today announced its intention to acquire privately-held analytics firm ParaStream. Financial terms of the deal are not being publicly disclosed.
ParaStream is based in Cologne, Germany, and actually got its start as part of Cisco's Entrepreneurs in Residence (EIR) program. When the acquisition formally closes in early 2016, ParaStream technology and employees will become part of the Cisco Data and Analytics Group.
ParaStream has three products: the ParaStream Analytics Platform, ParaStream DB and ParaStream Geo-Distributed Analytics.
"As a global technology leader, Cisco clearly understands the value of innovative data and analytics solutions, which are critical components of helping customers like you reach the Internet of Things [IoT], " Peter Jensen, CEO of ParaStream, wrote in a blog post. "This acquisition further validates ParaStream’s value proposition of helping companies turn data into strategic business information that can truly transform their business."
Rob Salvangno, VP of Corporate Business Development at Cisco, commented that ParaStream’s technology helps customers access data faster, enabling rapid analysis capabilities.
"This acquisition complements Cisco’s current data and analytics portfolio, improving our ability to provide analytics at the edge of the network, where data is increasingly being generated and in huge volume," Salvangno wrote.
The technology use-case for ParaStream is not an abstract concept for Cisco, either. It ties in well with the company's focus on the Internet of Things opportunity.
"ParaStream’s technology, for example, can help a renewable energy company track and monitor thousands of wind turbines at once by providing the information to optimize the performance of each turbine and quickly adjust to changing environmental factors like wind direction and temperature," Salvangno stated. "Instead of sending this data to a centralized server, now a company can store the data at the edge of the network, closer to the turbines and sensors, and track results even across a highly distributed network."
Sean Michael Kerner is a senior editor at Enterprise Networking Planet and InternetNews.com. Follow him on Twitter @TechJournalist.