Bridge Growth Partners LLC yesterday announced it has signed a definitive agreement to sell Accedian, a leader in performance analytics and end-user experience solutions, to Cisco. Financial terms of the transaction were not disclosed.
Accedian, a leading provider of network and application performance monitoring solutions primarily used by telecommunications companies, was acquired by Bridge Growth in 2017. The transaction is expected to close in the first quarter of Cisco’s fiscal year 2024, which begins July 30, 2023, subject to regulatory approvals and other customary closing conditions. Accedian is being represented by Evercore as financial advisor and Willkie Farr & Gallagher LLP and Stikeman Elliott LLP as legal counsel.
Dion Joannou, CEO of Accedian
Today’s announcement is an exciting next step for Accedian and a testament to our position on the leading edge of SaaS-based service assurance capabilities. Over the course of our partnership with Bridge Growth, we benefitted meaningfully from the firm’s deep industry knowledge and operational expertise. They also provided considerable support in the highly relevant Board they put in place and the relationships they facilitated as we expanded our platform and capabilities to meet our customers’ evolving challenges. Now, we are well positioned to bring significant strategic value to our global customers as part of Cisco.
Tom Manley, Partner of Bridge Growth Partners
We are very proud of the incredible transformation that Dion and the Accedian team has accomplished to become a global leader in network and application performance monitoring. At Bridge Growth, we strive to work closely with exceptional management teams to create lasting strategic value, with the goal to find the right home for our companies on behalf of all stakeholders. We look forward to Cisco implementing its vision to the benefit of all its customers.
