Previously, Cisco acquired AppDyamics for $3.7 billion, a company whose software spots bugs in applications and fix them.
"I'm excited to welcome the ThousandEyes team to Cisco", said Todd Nightingale, senior vice president and general manager, Cisco Enterprise Networking and Cloud.
This is the first-ever acquisition Cisco has made completely online using Cisco's Webex video-calling service due to the stay-at-home orders in place since March, reportedCNBC.
Under the deal, ThousandEyes' technology will be used across Cisco's core Enterprise Networking and Cloud services as well as its AppDynamics services.
On May 28, Cisco announced its intent to acquire the privately-held ThousandEyes, known for its software-as-a-service (SaaS) product capable of measuring network performance.
As per reliable sources, the terms of the acquisition between ThousandEyes and Cisco have not been disclosed yet, though it has been rumored to be worth around Dollars 1 billion. Pitchbook had pegged its valuation at $670 million past year.
The networking giant said the move will provide its customers with "an end-to-end view into the digital delivery of applications and services". ThousandEyes says it can also help companies identify potential weak points in their networks and make more informed decisions on infrastructure investments. "This will give customers end-to-end visibility when accessing cloud applications, and Internet Intelligence will improve networking reliability and the overall application experience", he said.
"With thousands of agents deployed throughout the internet, ThousandEyes' platform has an unprecedented understanding of the internet and grows more intelligent with every deployment", Nightingale wrote in a blog post.
ThousandEyes, which was founded in 2010 by CEO Mohit Lad, has raised a total of about $111 million with an estimated valuation of $670 million as of February 2019.
With ThousandEyes, Cisco will add more reoccurring software and service revenues to its bottom line as it transitions away from relying on just the sale of hardware.
Cisco will buy ThousandEyes, a network intelligence company. "There's one network and the experience from the cloud to the company network to the device needs to be monitored". And, Cisco is a ThousandEyes customer.
The deal is expected to close before the end of Q1 for fiscal 2021, but financial details were not disclosed.
Lad will be general manager of ThousandEyes and Oliveira will be drive the company's product vision and strategy.
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