Cisco Systems, Inc. (CSCO) Acquires Energy Management Company JouleX For $107 Million
Cisco Systems, Inc. (NASDAQ:CSCO) has made an agreement to acquire energy management software company JouleX for $107 million in cash and retention-based incentives. Based in Atlanta, Georgia, JouleX offers energy management products for companies, enterprise networks, and data centers.
JouleX can monitor and analyze the power consumption of network-connected devices including PCs, servers, printers, and data center systems. The acquisition is a way for Cisco to measure and manage energy usage remotely on corporate networks without having to use hardware meters. JouleX is able to cut up to around 40% of a corporation’s IT power consumption.
In terms of funding, JouleX raised over $17 million from firms like Sigma Partners and Flybridge Capital Partners. The acquisition is expected to be completed in Q4 2013.