In an attempt to accelerate its cloud capabilities, Cisco Systems, Inc. (NASDAQ:CSCO) has decided to buy Cliqr, better known for its cloud management services, for a whopping amount of $260 million.

Cliqr’s world-class services allow users to analyze and control their data and software on any third party service provider’s servers or their own servers without any hassle.

Management Call

Cisco’s senior management team is delighted to announce this news and hopes that it will have a positive impact on company’s expansion strategy. According to Chuck Robbins, CEO, Cisco, Cliqr employs about 100 employees who will join Cisco post the execution of this transaction. The market for computing and networking is changing at a rapid pace. Cloud has started replacing physical storage devices across the globe; therefore, Cisco seeks to mold its strategy in such a way that it can cash in on this change.

In Robbins’ opinion, those companies that fail to adapt to this change will fade away from the market sooner or later. Cisco has been dominating software and hardware market for years, and with the addition to cloud capabilities to its core business, it wants to serve customers in a better and more flexible way than ever.

Once the deal is executed, Cliqr will help Cisco’s customers to plan, control and monitor their resources in a straightforward manner, no matter if they own the hardware or use any third-party service. The announcement has come within a few weeks’ time since Cisco announced the acquisition of Jasper Technologies Inc. for a whopping $1.4 billion. While executing that deal, Cisco stated that it would help it expand product range and get an edge over other rivals in IoT market.

It’s not the first time when Cisco has acquired a competitor to enhance its expertise in any particular domain, and it’s not the last time as well. Going forward, it may execute more such deals to live up to customers’ expectations.