Cisco Announces Acquisition of Versly
SAN JOSE, Calif. – August 29, 2011 – Cisco today announced that it has acquired privately-held Versly. Based in San Francisco, Versly integrates collaboration capabilities via a plug-in into Microsoft Office applications, simplifying the way people work by enabling more effective collaboration around content in documents, spreadsheets, presentations and email.
"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," said Murali Sitaram, vice president and general manager, Collaboration Software Group (CSG), Cisco. "Furthermore, the integration with Versly will drive productivity improvements for organizations and their knowledge workers, many of whom are among the 600 million Microsoft Office users."
Collaboration is one of Cisco's five company priorities and represents what Cisco believes to be a total addressable market of $45 billion. The acquisition will provide more opportunity for Cisco partners to provide enhanced collaboration solutions to customers. Versly's software will be integrated into a variety of Cisco's collaboration offerings including Cisco Quad, Cisco Jabber and Cisco WebEx. For example, users will be able to receive automatic notifications within Cisco Quad when the content of a document has changed, escalate from simply reviewing a document to an instant messaging session through Cisco Jabber, or initiate a web conferencing session from a presentation through Cisco WebEx.
"With this acquisition we are gaining strong talent and innovative technology that builds on Cisco's successful collaboration platform," said Ned Hooper, Senior Vice President and Chief Strategy Officer, Cisco. "We continue to expand our collaboration architecture to change the way businesses work."
Upon the close of the acquisition, Versly employees will be integrated into Cisco CSG. Financial terms of the transaction are undisclosed.
Cisco (NASDAQ: CSCO) is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com
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This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including the expected completion of the acquisition and the time frame in which this will occur, the expected benefits to Cisco and its customers from completing the acquisition, and plans regarding Versly personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, the potential impact on the business of Versly due to the uncertainty about the acquisition, the retention of employees of Versly and the ability of Cisco to successfully integrate Versly and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.