Cisco Acquires A 1% Stake In Russian Software Company Parallels

Posted Jan 21, 2013

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.