Cisco blogged Monday that it intents to acquire the privately held Viennese cloud company SolveDirect for its cloud integration software. It said nothing about price.
In 2009 Cisco promised to underwrite the operation, then a subsidiary of Brain Force Holding AG, to the tune of €6 million over the years and fund its expansion into the US with the objective of tripling its revenues.
As part of the deal Brain Force spun it off but was still an investor, now probably holding less than 50%. It depends on how much Cisco’s investment in the firm diluted its position.
In 2008, SolveDirect generated revenues of €5.7 million and an EBITDA of over €1 million, employing 41 people. Cisco is reportedly a SolveDirect customer. The Austrian company is also a partner of BMC, which is currently in the throes of getting auctioned off and taken private.