Cisco Acquires A 1% Stake In Russian Software Company Parallels
Cisco Systems has acquired a 1% stake in Russian software company Parallels. Parallels said that the stake sale does not rule out a possibility of the company going public. ”We are looking at all possible ways to ensure liquidity options: dividend payouts, IPO, mergers and acquisitions,” stated Parallel. The price of the 1% stake was not revealed, but we do know that Cisco will get a seat on the board of directors. Parallels will be expanding their cloud business and solutions based on the Unified Data Center platform by 20-26% annually over the next 3 years.