Cisco buys collaboration software startup Versly
Cisco Systems has acquired Versly, a private startup that specializes on developing software and solutions for more effective collaboration and productivity.
Versly's primary tool is a plug-in on Microsoft Office applications that enables collaboration on documents, spreadsheets, presentations and email.
So far, all of Versly's employees will be moving over to Cisco when the deal is complete.
Cisco has made it a point that collaborative solutions will be a top focus for the company as it continues to refocus its priorities -- especially as the San Jose, Calif.-based enterprise sees this field as an addressable market worth $45 billion. Consumer devices don't meet these requirements for Cisco, but we have seen Cisco push collaborative apps into its other products, such as the Cisco Cius tablet.
Murali Sitaram, vice president and general manager of Cisco's collaboration software group, said in a statement:
Collaboration is a top priority at Cisco. With this acquisition we're enhancing our collaboration offerings and improving the user experience by integrating social technologies within the business applications individuals and teams use at work.
Specifically, Versly's resources and solutions will be integrated into many of Cisco's own offerings, including Cisco Quad, Cisco Jabber and Cisco WebEx.
Financial terms of the transaction have not been undisclosed.
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