Cisco Completes Acquisition of JouleX
SAN JOSE, Calif. – July 1, 2013 – Cisco today announced it has completed the acquisition of privately held JouleX, a leader in enterprise IT energy management for network-attached and data center assets. JouleX complements Cisco's existing services portfolio by using the capabilities of the network to gain visibility into and control energy usage across global IT environments.
JouleX's energy management solution, together with Cisco EnergyWise™, will provide customers with a simple way to measure, monitor and manage energy usage for network and IT systems across the enterprise, without the use of device-side agents, hardware meters or network configurations. JouleX's software helps to reduce energy costs by monitoring, analyzing and managing energy usage of all network-connected devices and systems through a set of policies derived through analytics tailored for an enterprise's needs.
JouleX employees will be integrated into the Connected Energy Solutions team within Cisco's Industry Solutions Group, reporting to David Goddard, vice president and general manager. Under the terms of the agreement, Cisco will pay approximately $107 million in cash and retention-based incentives in exchange for all shares of JouleX.
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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 JouleX 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 JouleX due to the uncertainty about the acquisition, the retention of employees of JouleX and the ability of Cisco to successfully integrate JouleX 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.