Cisco Systems Inc said on Tuesday it intends to acquire U.S. business software company AppDynamics Inc for about $3.7 billion in cash and assumed equity awards.
This is the largest deal for Cisco since it acquired security company Sourcefire for $2.7 billion in 2013. Appdynamics will continue to be led by David Wadhwani, Cisco said in a statement. The company had filed for an IPO of up to $100 million in December last year.
IFR reported earlier this month that AppDynamics is scheduled for IPO pricing on Jan. 25 and plans to sell 12 million primary shares at $10 to $12 each. Cisco said it expects the deal to close by the third quarter of 2017.