Cisco announced intentions to acquire ParStream based in Cologne, Germany.Terms of the deal were not disclosed.
Cisco says the acquisition complements its current data and analytics portfolio and improves its ability to provide analytics at the edge of the network, where data is increasingly being generated in large volumes.
ParStream was part of the Cisco Entrepreneurs in Residence startup program, a 6-month incubation period that supports early-stage, product-focused efforts focused on Internet of Everything/Things, smart cities, big data/analytics, enterprise mobility and security.
The ParStream team will join Cisco’s Data and Analytics Group. The acquisition is expected to close in the second quarter of Cisco’s fiscal year 2016, which ends in January, 2016.