US-listed computer network equipment maker Cisco Systems has acquired Austria-based SolveDirect, a provider of cloud management services, for an undisclosed amount.
SolveDirect has previously raised money from its acquirer’s corporate venturing fund, 3TS Cisco Growth Fund managed by independent private equity firm 3TS. The 3TS fund was launched in December 2007 and invests between €1m ($1.2m) and €4m in growth capital.
The acquisition is subject to various standard closing conditions. The deal is supposed to be completed in the fourth quarter of Cisco’s current fiscal year.