News Summary:
· Cisco intends to acquire Fluidmesh Networks, LLC, a leader in wireless backhaul solutions
· Cisco to use Fluidmesh’s products to support the growing demand for on-the-move mission critical assets and applications
· Fluidmesh’s technology is designed to provide zero loss of data transfer within high-speed assets including rail, subways, public transit, and ports
SAN JOSE, Calif. – April 6, 2020 – Cisco (NASDAQ: CSCO) today announced the intent to acquire privately-held Fluidmesh Networks, a leader in wireless backhaul systems. Fluidmesh’s leading technology delivers reliable and resilient wireless solutions for mission critical applications, whether it’s high-speed rail and mass transit or large-scale distributed sites such as ports and urban settings where signal strength can be challenging. Fluidmesh’s solutions are quick to deploy and configure, offering customers a cost-efficient, low-maintenance solution.
Fluidmesh will extend Cisco’s industrial wireless offerings to industries with on-the-move assets and applications in situations where reliable backhaul is mission critical. Cisco’s scale, combined with Fluidmesh’s solution-based offerings and relationships with systems integrators, will accelerate Cisco’s industrial IoT business to enable successful industrial wireless deployments, broaden reach to key customer segments, partners, and end users.
“Cisco provides one of the most secure and reliable networking technologies on the market today,” said Liz Centoni, senior vice president and general manager for Cloud, Compute, and IoT businesses. “With wireless technology playing a greater role in every organization’s multi-access IoT strategy, reliable wireless connectivity is paramount to organizations operating Industrial IoT environments, whether that’s manufacturing, mining, rail, or ports, where wireless technology automates operations to improve safety and lower costs. The acquisition of Fluidmesh strengthens Cisco’s offerings in this space with leading technology that’s designed to provide zero loss of data transfer at speeds in excess of 300 Km/h.”
The acquisition of Fluidmesh is expected to close in the fourth quarter of Cisco's fiscal year 2020, subject to customary closing conditions and required regulatory approvals. The acquisition will:
· Extend Cisco’s leadership in industrial wireless to include on-the-move applications where reliable backhaul is mission critical. Fluidmesh’s leading technology is designed to provide zero loss of data transfer when assets such as trains and subways are moving at high rates of speed. Today, customers are using Fluidmesh’s reliable wireless technologies in rail, mining, ports, and public transit to improve productivity, safety, and the customer experience.
· Accelerate Cisco’s Industrial IoT business and broaden its reach to key partners and end users. Cisco’s scale and market reach, combined with Fluidmesh’s industry-specialized sales team and systems integrator relationships, will help accelerate Cisco’s Industrial IoT business and broaden its reach.
· The Fluidmesh team will join Cisco’s IoT business
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Forward-Looking Statements
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the acquisition enabling the extension of Cisco’s industrial wi-fi position to on-the-move applications, helping to accelerate Cisco’s Industrial IoT business and broaden its reach to key partners and end users, the expected benefits to Cisco and its customers from completing the acquisition, and plans regarding Fluidmesh personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, that conditions to the closing of the transaction may not be satisfied, the potential impact on the business of Fluidmesh due to the uncertainty about the acquisition, the retention of employees of Fluidmesh and the ability of Cisco to successfully integrate Fluidmesh and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment, and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.