US-based based networking giant Cisco has acquired SaaS-based Bengaluru company 42hertz. Cisco which focuses on the data center, security, enterprise networking, big data, IoT and analytics startups across the globe, has been supporting many startups in India in the last few years.
“The deal completed recently, and both companies are likely to announce it in the coming week. The transaction had completed about three weeks ago,” sources said, as reported by Entrackr.
42hertz is headed by Manoj Nuthakki. It is headquartered in Houston, Texas. The company has a stronghold in India as well as Singpore market. Formed in 2011, the company provides enterprise solutions including end-to-end CRM, ERP or other customised solutions leveraging data science and artificial intelligence.
For Cisco, 42hertz will be bolstering customer and resource focused products and services.
With more than 120 active portfolio companies and over 45 LP funds across the world, Cisco invests USD 200 to USD 300 million annually, from series A to late-stage growth investments.
In India, Cisco has invested in about 20 startups, including Mobikwik, Apalya, CloudCherry, Deskera, and Whatfix. Besides, John Chambers has backed cybersecurity firm Lucideus, speech recognition startup Uniphore, among others in his personal capacity.
In 2017, the firm had announced to invest USD 70 million in India and revealed another plan to spend at least USD 200 million in startup investments primarily in the Indian subcontinent.