TechTaffy

tech:

taffy

Cisco to acquire Springpath for $320 million

By TechTaffy Desk

Cisco will acquire Springpath, a Sunnyvale-based company for $320 million in cash. The Springpath team will join the Computing Systems Product Group led by Liz Centoni.

Springpath has developed a distributed file system purpose-built for hyperconvergence, that enables server-based storage systems. The acquisition is the culmination of a long-standing strategic relationship between the companies, said Cisco in a statement. The companies have worked together since early 2016. Cisco also made an investment in Springpath in 2015.

The acquisition is expected to close in Cisco’s first quarter of fiscal year 2018, following customary closing conditions and regulatory review.

[Image courtesy: Cisco]

Just in

Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services. 
Industry

Intel appoints Kevin O’Buckley as SVP and GM of Foundry Services

Intel announced the appointment of Kevin O'Buckley as senior vice president and general manager of Foundry Services, the customer service and ecosystem operations division of Intel Foundry.