Cisco buying cloud startup CliQr for $260 million

Cisco is buying San Jose startup CliQr Technologies for $260 million as it continues to boost its cloud offerings, the San Jose networking company said Tuesday.

CliQr was started in 2010 by a couple of former VMware engineers. It makes cloud-management software for companies that are on the hybrid cloud — public and private. A company blog post from April 2015 said it had raised $38 million to date from backers such as Polaris Partners, Foundation Capital, Google Ventures and TransLink Capital.

The purchase, which is expected to close in the third quarter, is Cisco’s second of a Silicon Valley company in the past month. At the beginning of February, Cisco said it would buy Santa Clara-based Jasper Technologies for $1.4 billion, as Pete Carey reported.

Cisco CEO Chuck Robbins says the tech industry slowdown gives Cisco an advantage with startups that are looking for an exit.

“The reality is that the public IPO markets are effectively closed right now,” Robbins told Fortune. “It certainly makes for a different set of conversations we were having a year ago.”

About 100 CliQr employees will be joining Cisco, a Cisco spokesperson confirmed to SiliconBeat.

 

Photo: Gaurav Manglik, formerly of VMware, is co-founder and CEO of CliQr Technologies. (Courtesy CliQr)

 

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