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Cisco Systems Inc. CSCO, -0.88% said Tuesday that it plans to acquire privately held July Systems Inc., which makes location-based software.
“This acquisition also supports our journey to intent-based networking -a fundamentally new way of building and managing networks for the digital era,” Cisco said in a release.
July Systems will be part of the company’s Enterprise Networking Group. Terms of the deal weren’t disclosed. Cisco shares are down 1.4% in premarket trading but up 38% over the past 12 months, while the Dow Jones Industrial Average DJIA, -1.15% is up 16%.