MANHASSET, N.Y. Network systems company Cisco Systems Inc. has agreed to acquire network memory technology supplier Nemo Systems Inc. for $12.5 million.
According to a spokesperson at Cisco (San Jose), the network memory technology of Nemo (Los Altos, Calif.) would enhance the performance of its core switching platforms and service modules by providing higher speed and lower power consumption.
Nemo, co-founded in 2003 by president and chief executive Nicholas McKeown and CTO Sundar Iyer, will become part of Cisco's data center, switching and security technology group reporting to vice president and general manager Tom Edsall. Nemo has six employees, according to the Cisco spokesperson.
The acquisition is slated to close by the end of October.