Cisco Announces Intent to Acquire ClearAccess
Acquisition Enhances Cisco's Network Management Capabilities, Enabling Service Providers to Better Deliver, Manage and Monetize Their Services
SAN JOSE, Calif. – March 28, 2012 – Cisco today announced its intent to acquire privately held ClearAccess, a Vancouver, Wash. based company that provides TR-069-based software to service providers for the provisioning and management of residential and mobile devices. This acquisition includes ClearAccess' software business and talent. The hardware portion of ClearAccess' business, Smart RG Gateways, will continue forward as SmartRG, Inc. Cisco and ClearAccess' combined network management and software capabilities will enable service providers to better deliver, manage and monetize their services, while helping to improve operational efficiencies and customer experiences.
Service providers are faced with growing network complexity, exploding video and data traffic, and an increasing number of devices connected to their networks. With the proliferation of these devices, service providers are looking for ways to immediately lower operating expense while delivering and enabling new services. ClearAccess' management and software capabilities will augment Cisco Prime—Cisco's network management software portfolio—by offering service providers a set of powerful tools for managing the connected home, including monitoring and managing bandwidth usage, parental controls, diagnostics and analytics.
"The ClearAccess acquisition reinforces Cisco's commitment to service providers by accelerating software architectural advancements in mobility, cloud and managed devices, and video," said Jamie Lerner, vice president and general manager, Cisco Network Management Technology Group, Service Provider Applications. "ClearAccess provides a critical technology that will advance Cisco's mission to offer service providers a complete set of tools to manage their networks, within the home and across any connected device, amid the ongoing proliferation in network traffic."
This acquisition aligns with Cisco's strategic initiatives to build software platforms and drive business and technology architecture, and it complements Cisco's end-to-end portfolio and capabilities for service provider customers.
The ClearAccess team will bring strong software development and services skills to support the Cisco Prime platform. ClearAccess' proven track-record for the delivery of cloud-based services will provide Cisco with new capabilities that will make it easier for customers to trial and deploy. Upon the close of the acquisition, the ClearAccess team will be integrated into the Cisco Network Management Technology Group.
Specific financial terms of the transaction are undisclosed. The acquisition of ClearAccess is subject to various standard closing conditions and is expected to be complete in the fourth quarter of Cisco's fiscal year 2012.
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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 ClearAccess 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 ClearAccess due to the uncertainty about the acquisition, the retention of employees of ClearAccess and the ability of Cisco to successfully integrate ClearAccess 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.