UPDATE 1-Oracle to buy software maker Xsigo
July 30 (Reuters) - Software maker Oracle Corp said it would buy privately held Xsigo Systems, a network virtualization software maker.
San Jose, California-based Xsigo's software helps customers save costs by allowing them to connect any server to any network.
The eight-year-old company, backed by Kleiner Perkins and Khosla Ventures, counts British Telecom Plc, eBay Inc and Verizon Communication Inc among its customers.
"The acquisition is a testament to the momentum behind software-defined networking and network virtualization technology and a sense of urgency among large IT vendors to position themselves following VMware Inc's acquisition of Nicira," ISI Group analyst Brian Marshall said.
VMware last week said it would acquire privately held Nicira Inc for $1.05 billion in cash to expand its portfolio and establish a leading position in virtualized networks.
Oracle did not disclose the terms of the deal.
Evercore Partners advised Xsigo Systems on the deal.
Earlier this month, Oracle bought software maker Skire Inc for an undisclosed amount.
- Tweet this
- Share this
- Digg this
- Dynasty's Congress party punished in state elections
- India finally fall in line to get Olympic ban overturned
- UPDATE 2-Iran president Rouhani targets stagflation in first budget
- Anti-corruption crusader Kejriwal stuns Indian politics with election surge
- WTO overcomes last minute hitch to reach its first global trade deal
The Congress party was headed for a bruising defeat in key state elections, including in the capital, early results showed on Sunday, underlining the struggle it will face to cling to power in a national election due by May. Full Article