Wednesday, June 29, 2005

Cisco Buys NetSift For $30M

Networking giant Cisco Systems said that it has acquired San Diego-based NetSift, a Enterprise Partners backed startup developing technology for packet processing and filtering high speed network traffic. The deal is worth $30M in cash and options for NetSift. Cisco said that it would integrate the company to add its content processing technology into future core Cisco platforms in the modular switching area. NetSift is a UC San Diego spinoff and was founded in June of 2004. According to the companies it has 15 employees. NetSift received a Series A financing in June of 2004 from Enterprise Partners Venture Capital, and was founded by George Varghese and Sumeet Singh.