Networking technology company Cisco is set to acquire US-based cloud computing software developer Metacloud in a deal that will enable semiconductor foundry UMC to exit the company.
Metacloud provides private cloud for businesses, based on the OpenStack open source cloud software platform. Cisco did not reveal the financial terms of the acquisition.
The acquisition comes four months after Metacloud closed a $15m series B round funded by UMC Capital, which acts as UMC’s corporate venturing unit, as well as Pelion Venture Partners, Silicon Valley Bank, AME Cloud Ventures, Canaan Partners and Storm Ventures.
Metacloud had previously raised $10m in a June 2013 series A round backed by Canaan Partners, Storm Ventures and AME Cloud Ventures, and an undisclosed amount of seed funding from Storm and AME the previous year.