Cisco Systems, Inc (NASDAQ:CSCO) lately announced its intention to move forward and buy some of the talent and technology from a trusted and well-renowned tech company based in Chicago.
Thursday this week as a matter of fact had it announce that it had indeed agreed to move ahed with the plan to acquire the analytics intellectual property as well as the Advanced Analytics team from Saggezza, which happens to be a data analytics provider based in Chicago.
A number of top reporters needed to know for reporting purposes the terms of the deal, but to their great disappointment, it was all in vain. This was after all the company’s top executives they tried to engage declined to make any comments in relation to the matter for reasons best known to them.
Well, Saggezza happens to have been founded somewhere around the year 2006 and the provider has since then been doing all within its means to ensure that it used the data analytics in the best possible way to see to it that it was able to assist companies turn raw data into business insight. It co-operates with customers in retail, finance, telecom industries as well as in business services.
Rob Salvagno, who happens to be the head of acquisitions at Cisco in one of his blog posts outlined that the company was moving ahead to implement its plan of acquiring a “select group” of analytics experts all coming from Saggezza. They will be expected to move into the Cisco Enterprise Networking Engineering Group and give it a major boost through utilizing their experience and skills as well.
Ravi Chandrasekaran is the Senior Vice President at Cisco and according to sources; the team which comprises of less than 30 individuals will be reporting to him.
While addressing a press conference Salvagno asserted, “This team has been responsible for developing innovative technology that powers Saggezza’s internal analytics platform, which enables customers to rapidly acquire and analyze data, creating complex rules and new data visualization applications. With today’s announcement, we will acquire a cohesive and high-performing team of analytics experts to bolster our ongoing innovation in this space.”
The company still has more plans and it promises of a better tomorrow. We just have to wait!