Cisco Systems has dipped into the M&A pool again, this time pulling out MaintenanceNet, a privately held company that markets a cloud-based platform that uses data analytics and automation to track, manage and renew customer contracts.
Cisco will pay $139 million in cash and retention based incentives to acquire MaintenanceNet, and expects to complete the deal during the first quarter of Cisco’s fiscal year 2016, Debbie Dunnam, Cisco’s SVP of global customer success, noted in this blog post detailing the deal.
The acquisition follows a business history between the two companies. Since 2009, Cisco and MaintenanceNet have worked together to offer Cisco distribution and reseller partners an automated way to “improve service renewals and identify uncovered product opportunities,” Dunnam explained, noting that the solution enables automated quoting, notifications, and, ordering online.
Once the deal is closed, MaintenanceNet will join Cisco’s Global Customer Success (GCS) organization.
Carlsbad, Calif.-based MaintenanceNet was founded in 2004.
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