Cisco Systems Inc. (Nasdaq: CSCO) is acquiring ContainerX Inc., a startup developer of software for managing data center infrastructure.
ContainerX will be Cisco’s first acquisition in the so-called “container” market, which refers to a type of software that helps build and manage cloud computing resources, says Rob Salvagno, head of of Cisco’s M&A and venture investment team. Privately owned ContainerX is less than two years old and venture-capital funded, launching its first beta version in November 2015. The company is based in San Jose, California, and led by co-founders Pradeep Padala, chief technology officer, and Kiran Kamity, CEO. Cisco, also based in San Jose, is the largest developer and seller of computer networking equipment in the world.