Cisco Expands Further Into Software With ThousandEyes Acquisition

Cisco Systems (NASDAQ: CSCO) has inked a deal to acquire ThousandEyes, a privately held cloud software company hailing out of San Francisco, in an effort to expand its software business. Terms of the deal were not disclosed, but Bloomberg reports that Cisco is paying close to $1 billion. In a press release, Cisco said the rapid adoption of cloud networks by businesses and their reliance on the Internet and networks outside of their organizations has created a "chaotic and unmanageable" IT environment for many companies.