Cisco to Buy Cloud Platform MaintenanceNet

Cisco Systems Inc. on Tuesday announced a deal to buy privately held MaintenanceNet for $139 million, the latest acquisition for the network giant.

Carlsbad, Calif.-based MaintenanceNet, which was founded in 2004, operates a cloud-based platform that uses data analytics to help automate sales processes.

The companies have partnered since 2009, whereby MaintenanceNet's software alerts Cisco clients to service contracts that are coming up for renewal or overdue and enables automated quoting and online ordering.

In a blog post, Cisco said MaintenanceNet will join its global customer success organization and called the ability to easily track and manage contracts "critical" as more information technology business models shift to a recurring revenue model for products and services.

Cisco said it expects to complete the acquisition in the first quarter of its 2016 business year and will pay cash and retention-based bonuses.

The deal follows a $635 million purchase last week of network security company OpenDNS as well as recent acquisitions of Piston Cloud Computing and Tropo, among others.

Write to Lisa Beilfuss at [e-mail]

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