Cisco To Acquire PostPath for $215 Million
Cisco Systems, Inc. has made a definitive agreement to acquire PostPath. PostPath has an online mail and calendar software that serves either as a replacement or as a supplement to Microsoft Outlook.
PostPath will be used to enhance WebEx, a video conference company that Cisco acquired last year. Cisco will also use PostPath’s email and calendar systems and improve upon the IM, voice, video, data, and document experience.
“The acquisition of PostPath complements our strategy to develop an integrated collaboration platform designed for how we work today and into the future, providing real productivity gains and a more satisfying user experience”, stated Doug Dennerline, Cisco SVP of Collaboration Software Group. “Our ‘cloud-based’ delivery model offers our customers rapid deployment and compelling economics.
As part of the agreement, Cisco will pay $215 million in exchange for 100% of the shares in PostPath. The acquisition is expected to finalize by Q1 2009. PostPath’s current employees will become part of Cisco’s Collaboration Software Group.
PostPath is based in Mountain View, Calif. PostPath will continue to support existing customers.