Cisco Invests $50M In Nuova
Cisco Systems has invested $50M in Nuova Systems, a firm that is developing next generation data center products. Cisco also said that it may possible invest up to $42M in the firm in the future. The investment makes Cisco the 80% owner of the firm, which includes former Cisco exec Mario Mazzola as a founder. Cisco also said that it has the option to purchase the remaining 20% of the firm, for between $10M and $578M depending on product success. The founders of the firm were also involved in Andiamo Systems, another Cisco spin-in. Nuova is believed to be working on data center virtualization and grid computing technology, but the firm has not released details of its stealth products yet.
posted on Friday, August 11, 2006 (Link to more information)
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