Cisco Systems, a Nasdaq-listed network equipment supplier, has acquired Ubiquisys, a UK-based developer of telecoms technology backed by Taiwan-based corporations, for $310m. Ubiquisys had raised about $62m.
In August, Ubiquisys raised $19m from a consortium including repeat investor 5 Continents Consulting Group (5CCG).
Japan-based venture capital firm Mobile Internet Capital, which is part-owned by local telephone operator NTT Docomo, and Nissay Capital, wholly-owned by Japan’s largest life insurance business, Nippon Life Insurance Company, led the $19m series E round for Ubiquisys.
They were joined by venture capital firms Accel Partners, Advent Venture Partners, Atlas Venture and Yasuda Enterprise Development but there was no mention of the three Taiwanese firms.
In September 2010, three Taiwan-based investors joined an extended $5m series D round for Ubiquisys.
Network equipment maker SerComm, UMC Capital, the corporate venturing division of semiconductor maker United Microelectronics, and venture capital (VC) firm Pacific Venture Partners were joined by US and UK-based VCs Advent Venture Partners, Accel Partners and Atlas Venture as repeat backers in Ubiquisys.
The round had previously raised $9m in July 2010 led by 5CCG, with participation from Japan’s Yasuda Enterprise Development Company and existing investors Advent, Accel and Atlas. However, previous strategic investors Deutsche Telekom’s T-Mobile Venture Fund and search engine group Google did not reinvest, a deal source said.
Ubiquisys raised $11m in August 2009, and a consortium of T-Mobile Venture Fund, Google and Accel, Atlas and Advent provided an undisclosed sum in March 2008.
Its series B round in July 2007 raised $25m and A round closed at $12m the previous September.