Cisco continues to build its Internet of Things (IoT) strategy today with the acquisition of Köln, Germany-based start-up ParStream.
ParStream markets tools to enable the immediate and continuous analysis of real time IoT data. Terms of the deal were not disclosed.
'Business as Usual'
In a statement to CMSWire, ParStream CEO Peter Jensen said it will be business as usual despite the Cisco acquisition.
“Although our day-to-day business operations will not change, in the coming weeks and months you’ll see us shift into overdrive. We’ll be empowered by Cisco to innovate in new ways and to share all the benefits of being part of a world-class company,” Jensen wrote.
What this means is that the ParStream team will be integrated into Cisco’s analytics and automation portfolio, joining the data and analytics group.
In blog post about the deal, Rob Salvagno, VP of corporate business development at Cisco, said ParStream will provide Cisco the ability to break down data where it is created.
“ParStream’s technology helps customers access data faster and at scale, rapidly analyzing and filtering billions of records and getting information to the business in near real-time. [It] improves our ability to provide analytics at the edge of the network where data is increasingly being generated and in huge volume,” he wrote.
Depending on who you ask, the number of data-providing sensors, connected to the IoT — or the Internet of Everything as Cisco calls it — ranges from about 25 million (Gartner) to 50 billion (Cisco).
Cisco’s IoT Strategy
However, all of the data provided by those sensors is pretty much pointless unless enterprises can take meaning from it. To do that Cisco has been building and buying relevant technology over the past few years.
In July, it bought MaintenanceNet , a cloud-based software platform that uses data analytics for $139 million in cash. It bought Tropo, a cloud API platform that can help developers embed real time communications within their applications, in May.
In 2014 it bought automation network management provider Tail-f Systems and ThreatGRID for IoT malware analysis.
ParStream was part of the Cisco Entrepreneurs in Residence start up program, which Cisco describes as a startup incubation program building strategic relationships with early-stage entrepreneurs.
Created in 2011, ParStream had raised about $14 million in venture funding from Khosla Ventures and others since its launch. Cisco clearly considers ParStream ready to take the next step forward.