Bloomberg News

Cisco Acquires Stake in Russian Software Developer Parallels

January 17, 2013

Cisco Systems Inc. (CSCO:US) acquired a stake in Russian software developer Parallels to cooperate in providing cloud services.

Cisco bought a stake of about 1 percent and will get a seat on Parallels board of directors, the Russian company said by e- mail. The two companies have worked together to provide cloud services for companies including Sprint Nextel Corp. and America Movil SAB, Parallels said.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • CSCO
    (Cisco Systems Inc)
    • $25.2 USD
    • -0.01
    • -0.06%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus