Networking technology provider Cisco intends to acquire US-based cloud software developer Piston Cloud Computing for an undisclosed sum in a deal that will provide an exit to telecommunications firm Swisscom.
Piston provides software based on the OpenStack cloud computing software platform that automates the organisation of commodity servers into a single, private cloud environment.
Cisco, which also acquired OpenStack software developer Metacloud in September 2014, will use Piston’s distributed systems engineering and OpenStack expertise to beef up its Cisco Intercloud Services division.
Swisscom invested in Piston’s $8m series B round in 2013 through its Swisscom Ventures unit, and was joined in the round by Cisco, venture capital firms Divergent Ventures, Hummer Winblad and True Ventures, and VC fund Data Collective.
Piston has so far raised a total of $18.9m in equity and $3.5m in debt financing, according to regulatory filings, most recently securing $8.4m in debt and equity in April this year. It had no additional publicly disclosed investors.