Cisco takes stake in data center firm Nuova

Iria · Aug 12, 2006, 02:55 PM

Source: News.com
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Networking equipment maker Cisco Systems announced Thursday that it has taken an 80 percent stake in Silicon Valley start-up Nuova Systems.

Cisco said it has committed $50 million to the data center firm and, depending on the company's performance, could shell out an additional $42 million in funding.

Nuova Systems will become a majority-owned subsidiary of Cisco. The remaining 20 percent of the company will be held by Nuova's employees.

Aug 12, 2006, 02:55 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Cisco takes stake in data center firm Nuova Source: News.com ________ Networking equipment maker Cisco Systems announced Thursday that it has taken an 80 percent stake in Silicon Valley start-up Nuova Systems. Cisco said it has committed $50 million to the data center firm and, depending on the company's performance, could shell out an additional $42 million in funding. Nuova Systems will become a majority-owned subsidiary of Cisco. The remaining 20 percent of the company will be held by Nuova's employees.