Cisco plans to acquire MaintenanceNet, a provider of warranty and maintenance contract management software, for...
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$139 million. The acquisition is the fifth the networking company has announced this year.
The 10-year-old, privately held MaintenanceNet provides cloud-based software that helps vendors track and renew service contracts sold to customers. The application also contains analytics for spotting customers with hardware or software that could be added to existing maintenance agreements. In some cases, contracts can be renewed or modified online.
The majority of Cisco's business is done through resellers, so providing a maintenance agreements tracker like MaintenanceNet benefits the vendor and its partners. Resellers are key to Cisco's strategy for selling products and services tailored to emerging technology trends, including the Internet of Things (IoT) and software-defined networking (SDN).
Cisco has provided MaintenanceNet services to resellers since 2009. The software "helps Cisco partners capture high-volume and low-dollar sales opportunities that may risk being overlooked," Debbie Dunnam, senior vice president of global service sales, said in a blog post this week.
Other MaintenanceNet customers include technology reseller Ingram Micro and consumer electronics company Panasonic.
Cisco's four other acquisitions this year
Cisco expects to complete the acquisition by the end of October. MaintenanceNet will become a part of Cisco's Global Customer Success organization, which manages the company's relationships with partners and customers.
Besides MaintenanceNet, Cisco has announced four other acquisitions this year. In June, Cisco said it planned to acquire security firm OpenDNS for $635 million and cloud automation company Piston Cloud Computing. Cisco expects to complete the acquisitions over the next few months.
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