Cisco Acquires Richards-Zeta Building Intelligence

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Cisco Acquires Richards-Zeta Building Intelligence

The acquisition exemplifies Cisco’s “build, buy and partner” strategy to move quickly into new markets and capture key market transitions

Wednesday, January 28, 2009

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BANGALORE, INDIA: Cisco, a provider in networking solutions, today announced that it has completed the purchase of California-based, privately-held Richards-Zeta Building Intelligence, Inc, a provider in intelligent middleware technology.

Richards-Zeta's intelligent middleware transforms building operational data into an IT-friendly format that easily integrates with existing applications, said a press release.

Its scalable, open platform enables the convergence of building systems onto an IP network, provides more effective management of energy consumption across an organization, the release added.

"Energy consumption is a global issue, and customers are increasingly demanding that energy management services are delivered over a converged IP architecture. An intelligent IP network is the platform to meet this need," said Marthin De Beer, senior vice president of Cisco's Emerging Technologies Group.

"Richards-Zeta's intelligent middleware, together with the building-systems expertise of our partners and Cisco's expertise in networking technologies, will deliver complete solutions designed to maximize operational and energy efficiencies and provide cost and carbon savings for customers."

Richards-Zeta's technologies will support Cisco customer solutions such as Cisco connected real Estate and energywise.

The Richards-Zeta acquisition exemplifies Cisco's "build, buy and partner" strategy to move quickly into new markets and capture key market transitions, said the release.

The acquisition was accounted for in accordance with generally accepted accounting principles. Financial terms of the transaction are undisclosed.

With the close of the purchase, the Richards-Zeta team will become part of the Emerging Technologies Group that is located in Cisco's Globalisation Centre East, reporting to senior vice president .

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ramya said on 1/28/2009 11:30:45 PM:
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