Cisco to acquire ParStream to access data analytics platform
October 29, 2015
Cisco plans to acquire ParStream, a privately-held company based in Cologne, Germany, that provides an analytics database that allows companies to analyse large amounts of data and store it in near real time anywhere in the network.
“As a global technology leader, Cisco clearly understands the value of innovative data and analytics solutions, which are critical components of helping customers reach the IoT,” said Peter Jensen, CEO of ParStream. “This acquisition further validates ParStream’s value proposition of helping companies turn data into strategic business information that can truly transform their business.”
Speed is critical for helping companies to generate value from data in IoT environments. ParStream’s specialised database is built for IoT environments. It allows customers to compute and analyse large amounts of data at the edge in real time, with minimal infrastructure and operating costs at the edge.
Using compression and indexing capabilities, ParStream’s technology helps customers access data faster and at scale, rapidly analysing and filtering billions of records and getting information to the business in near real-time.
“This acquisition complements Cisco’s current data and analytics portfolio, improving our ability to provide analytics at the edge of the network, where data are increasingly being generated and in huge volume,” said Rob Salvagno, Cisco’s vice president for corporate business development, in a blog post. “The value of IT has always been derived from the intelligence contained in data. Analytics are at the heart of Cisco’s strategy for a hyper distributed intelligent infrastructure.”
ParStream’s technology, for example, can help a renewable energy company track and monitor thousands of wind turbines at once by providing the information to optimise the performance of each turbine and quickly adjust to changing environmental factors such as wind direction and temperature. Instead of sending these data to a centralised server, now a company can store the data at the edge of the network, closer to the turbines and sensors, and track results even across a highly distributed network.
Real-time access to data derived from the connected equipment can lead to benefits such as decreased equipment downtime through predictive maintenance, increased productivity, and historical analysis of environmental patterns.
ParStream was part of the Cisco Entrepreneurs in Residence start up programme. The ParStream team will be integrated into Cisco’s analytics and automation portfolio, joining the data and analytics group. The acquisition is expected to close in the second quarter of fiscal year 2016.
“We will continue to operate as we always have, with our top priority being your satisfaction in our delivery and pursuit of excellence,” said Jensen in an email to customers. “We’ll continue to deliver the same high level of commitment to your business. Above all, during this transition, we’ll work together to diligently meet and exceed your expectations. What’s next? Although our day-to-day business operations will not change, in the coming weeks and months you’ll see us shift into overdrive. We’ll be empowered by Cisco to innovate in new ways and to share all the benefits of being part of a world-class company with you. Our focus remains on delivering the technology and solutions you need to drive success in your business. We see a bright future ahead and look forward to working with Cisco to continue to deliver industry-leading IoT analytics solutions.”