Cisco is acquiring AppDynamics, a privately held application performance management company based in San Francisco, for approximately $3.7 billion.

AppDynamics will continue to be led by CEO David Wadhwani as a new software business unit in Cisco’s IoT and Applications business, reporting to Rowan Trollope. The acquisition is expected to close in Cisco’s third quarter of fiscal year 2017, subject to customary closing conditions.

You can read a blog post on the acquisition by Rob Salvagno, vice president, corporate business development of Cisco here.

[Image courtesy: AppDynamics]