May 30, 2013 – To help with the power portion of its much-hyped “Internet of Things” capabilities, Cisco has proposed a deal for energy management solutions vendor JouleX.
According to a release on the proposed deal, Cisco would pay $107 million in cash and retention-based incentives in exchange for all shares of JouleX. Cisco anticipates the deal to close in Q4 of this year. JouleX employees will join Cisco’s Connected Energy Solutions team under its Industry Solution Group, which is headed by VP and GM David Goddard.
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