US-based networking giant Cisco’s announcement to invest in India has supported many Indian startups in the past two years. Not only Cisco but the company’s executive chairman John Chambers had also shown his interest in local startups.
Cisco, which focuses on data centre, IoT, enterprise networking, security, big data and analytics startups across the world, has taken over another SaaS-based company operational in Bengaluru.
This time Cisco is acquiring 42hertz.
According to two Entrackr‘s sources, the deal completed recently, and both companies are likely to announce it in the coming week. “Transaction had completed about three weeks ago,” they emphasised.
Both sources requested anonymity.
Led by Manoj Nuthakki, 42hertz is headquartered at Houston, Texas and has a strong presence in India as well as Singapore. Operational since 2011, it provides enterprise solution including end-to-end CRM, ERP or other customised solutions leveraging data science and artificial intelligence.
Following the deal, 42hertz will be bolstering customer and resource focused product and services of Cisco. Entrackr couldn’t ascertain the size of the deal.
Email queries to 42hertz and Cisco did not elicit any response till the publication. We’ll update the post as and when the replies come in.
With more than 120 active portfolio companies and over 45 LP funds across the world, Cisco invests $200 to $300 million annually, from series A to late-stage growth investments.
In India, Cisco has invested in about 20 startups, including Mobikwik, Apalya, CloudCherry, Deskera and Whatfix. Besides, John Chambers has backed cybersecurity firm Lucideus, speech recognition startup Uniphore, among others in his personal capacity.
In 2017, the firm had announced to invest $70 million in India and revealed another plan to spend at least $200 million in startup investments primarily in the Indian subcontinent.
Apart from startups, Cisco has also invested in a few Indian VCs such as IDG Ventures, Stellaris Venture Partners, and Mumbai-based early-stage investor Aavishkaar.