Wednesday, July 8, 2015

Cisco Buys MaintenanceNet

San Jose-based Cisco said Tuesday that it has acquired MaintenanceNet, a developer of cloud based software for managing recurring service contracts, in a deal worth $139M. Maintenance, which was based in Southern California, will help Cisco help partners capture more high-volume and low-dollar sales opportunities, Cisco said in a blog post Tuesday. MaintenanceNet was privately held, and had received funding from Express Ventures and Kayne Anderson.