Avi Networks, a US-based automated application services provider backed by networking equipment manufacturer Cisco, yesterday agreed to an acquisition by software virtualisation company VMWare.
Financial terms of the transaction have not been disclosed. It is expected to close during VMware’s fiscal second quarter for the 2020 financial year, subject to customary closing conditions.
Founded in 2012, Avi Networks operates an automated multi-cloud application services platform, named Avi Vantage Platform, offering functionality such as load balancing, a firewall and analytics to monitor the performance of applications.
VMWare will both integrate Avi’s technology into its VMware NSX Data Center and provide it as a stand-alone product.
Avi Networks raised $115m in funding ahead of the acquisition. Cisco’s corporate venturing subsidiary, Cisco Investments, contributed to a $60m series D round in January 2018 alongside DAG Ventures, Lightspeed Venture Partners and Menlo Ventures.
The company had emerged from stealth in 2014, disclosing a $12.2m series A round obtained in 2012 from Greylock Partners and Lightspeed. It also secured $20.8m in a series B round led by Menlo, with participation from Greylock and Lightspeed, in 2014.
Avi Networks has not revealed details about its series C round.
