Cisco is buying some of the talent and technology from a Chicago tech company.
Cisco announced Thursday that it has agreed to acquire the Advanced Analytics team and the analytics intellectual property from Saggezza, a Chicago-based data analytics company. Terms of the deal were not disclosed.
Founded in 2006, Saggezza uses data analytics to help companies turn raw data into business insight. It works with customers in finance, retail, business services and telecoms industries.
Cisco head of acquisitions Rob Salvagno said in a blog post that the company is acquiring a "select group" of analytics experts within Saggezza, who will join the Cisco Enterprise Networking Engineering Group. The team of fewer than 30 will work under Cisco Senior Vice President Ravi Chandrasekaran.
"This team has been responsible for developing innovative technology that powers Saggezza’s internal analytics platform, which enables customers to rapidly acquire and analyze data, creating complex rules and new data visualization applications," Salvagno said. "With today’s announcement, we will acquire a cohesive and high-performing team of analytics experts to bolster our ongoing innovation in this space."
The news comes the same week Cisco announced it would acquire another software company, San Jose-based Viptela. Both Viptela and Saggezza are expected to help Cisco’s Digital Network Architecture, the company's architecture designed to more effectively automate network operations.
The deal is expected to close by the end of the year.
