Friday, August 11, 2006

Cisco Invests $50M In Nuova

Cisco Systems has invested $50M in Nuova Systems, a firm that is developing next generation data center products. Cisco also said that it may possible invest up to $42M in the firm in the future. The investment makes Cisco the 80% owner of the firm, which includes former Cisco exec Mario Mazzola as a founder. Cisco also said that it has the option to purchase the remaining 20% of the firm, for between $10M and $578M depending on product success. The founders of the firm were also involved in Andiamo Systems, another Cisco spin-in. Nuova is believed to be working on data center virtualization and grid computing technology, but the firm has not released details of its stealth products yet. More information »