Friday, August 7, 2015

MaintenanceNet Acquisition By Cisco Completes

Carlsbad-based cloud software developer MaintenanceNet is now officially part of Cisco, Cisco said this week, after it completed its acquisition deal for the company. Cisco had announced its acquisition of MaintenanceNet on July 8th, saying it would pay $139M for the startup. MaintenanceNet develops cloud-based software being used by companies to better manage the renewal of recurring customer contracts. The company had been backed by Kayne Anderson Capital Advisors. Cisco says MaintenanceNet becomes part of Cisco's Global Customer Success (GCS) organization.

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