Cisco has announced its intention to acquire Cmpute.io to give clients the chance to optimize their cloud solution costs.
On Thursday, the tech giant said in a blog post that by integrating the Bangalore, India-based firm's software, which analyzes cloud-deployed workloads and consumption patterns in order to find cost-cutting measures, the deal "will help our customers optimize their cloud consumption to ensure optimal business value."
Financial details were not disclosed.
Cmpute.io, also known as 47Line Technologies and incorporated in Delaware, operates a SaaS platform for cloud solutions such as Amazon Web Services (AWS) and app optimization, cost reduction, performance boosts, and scheduling.
The company claims that the enterprise can reduce costs by over 80 percent by adopting its software.
According to Cisco, by adding Cmpute.io technology to existing Cisco solutions, customers will be able to balance their cloud usage to optimize business value.
"Cmpute.io's team and technology will add new capabilities to Cisco CloudCenter and accelerate our delivery of cost-optimization features for our customers," said Rob Salvagno, Cisco VP of Business Development.
The acquisition of Cmpute.io is expected to close in the second quarter of Cisco's fiscal year 2018.
The acquisition is rather small in comparison to the height of Cisco's buying spree over the course of this year. Back in October, Cisco announced its intention to buy Broadsoft in a deal worth $1.9 billion.
The deal, approved by both the Cisco and BroadSoft boards of directors, has been made to boost Cisco's enterprise collaboration tools and solutions portfolio.
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