Cisco, Monday announced its intent to acquire ParStream, a privately-held company based in Cologne, Germany that provides an analytics database that allows companies to analyze large amounts of data and store it in near real time anywhere in the network. The acquisition complements Cisco’s current data and analytics portfolio, improving its ability to provide analytics at the edge of the network, where data is increasingly being generated and in huge volume, said the company in its blog.
Peter M. Jensen, CEO, ParStream, wrote in the company's blog, "This acquisition further validates ParStream’s value proposition of helping companies turn data into strategic business information that can truly transform their business."
ParStream was part of the Cisco Entrepreneurs in Residence start up program. The ParStream team will be integrated into Cisco’s Analytics and Automation portfolio, joining the Data and Analytics Group.
