Cisco to Acquire MaintenanceNet in $139M Deal
Another week, another acquisition of a channel-focused company. Cisco Systems (CSCO), fresh off last week’s announcement of its deal to buy OpenDNS, has today announced it will purchase cloud-based software platform vendor MaintenanceNet for $139 million in cash and retention-based incentives. Cisco said the deal would strengthen its ability to automate service renewals and increase recurring revenue opportunities for its distributors and partners.
MaintenanceNet’s cloud software platform helps organizations manage renewals of recurring customer contracts and provides help with upsale opportunities. Cisco said it will use the platform to speed up its services contract renewals, eliminating the manual work surrounding contract renewals with customers.
Check out the full story at TalkinCloud.com here.