CPE News (6.26.2023) – Cisco Systems, Inc. (NASDAQ: CSCO) has agreed to acquire Accedian Networks from Bridge Growth Partners for undisclosed amount.
Montreal based Accedian is the leader in performance analytics and end user experience solutions, dedicated to providing our customers with the ability to assure their digital infrastructure, while helping them to unlock the full productivity of their users.
In March 2017, Bridge Growth Partners acquired Accedian.
The transaction is expected to close Q1 of Ciscos fiscal year 2024, which begins July 30, 2023, subject to regulatory approvals and other customary closing conditions.
photo credit: Accedian
News Release
Cisco Announces Intent to Acquire Accedian: Accelerating High Performance Service Assurance
Bridge Growth Partners Announces Sale of Accedian to Cisco
June 21, 2023 04:00 PM Eastern Daylight Time
NEW YORK–(BUSINESS WIRE)–Bridge Growth Partners, LLC, a leading technology investment firm, today announced it has signed a definitive agreement to sell Accedian, a leader in performance analytics and end-user experience solutions, to Cisco. Financial terms of the transaction were not disclosed.
Accedian, a leading provider of network and application performance monitoring solutions primarily used by telecommunications companies, was acquired by Bridge Growth in 2017. Since that time, Accedian has undergone significant business transformation, which has included:
Establishing a SaaS-first platform comprised of the world’s most granular and accurate network and application-aware measurement systems aimed at meeting the specialized needs of telecom businesses
Accelerating global growth and customer base expansion through the acquisition of Paris-based Performance Vision
Building a world-class leadership team with key hires in marketing, operations and sales
Entering the cybersecurity category through investment in R&D and product expansion
“Today’s announcement is an exciting next step for Accedian and a testament to our position on the leading edge of SaaS-based service assurance capabilities,” said Dion Joannou, CEO of Accedian. “Over the course of our partnership with Bridge Growth, we benefitted meaningfully from the firm’s deep industry knowledge and operational expertise. They also provided considerable support in the highly relevant Board they put in place and the relationships they facilitated as we expanded our platform and capabilities to meet our customers’ evolving challenges. Now, we are well positioned to bring significant strategic value to our global customers as part of Cisco.”
“We are very proud of the incredible transformation that Dion and the Accedian team has accomplished to become a global leader in network and application performance monitoring,” said Tom Manley, Partner of Bridge Growth Partners. “At Bridge Growth, we strive to work closely with exceptional management teams to create lasting strategic value, with the goal to find the right home for our companies on behalf of all stakeholders. We look forward to Cisco implementing its vision to the benefit of all its customers.”
The transaction is expected to close in the first quarter of Cisco’s fiscal year 2024, which begins July 30, 2023, subject to regulatory approvals and other customary closing conditions.
Accedian is being represented by Evercore as financial advisor and Willkie Farr & Gallagher LLP and Stikeman Elliott LLP as legal counsel.
About Bridge Growth Partners
Bridge Growth Partners, LLC is a private equity firm that targets investments in the technology and technology-enabled services sectors. Bridge Growth Partners brings together in one team premier investment, financial, strategic, and operating business building talent. The firm is committed to relationship-based investing, with a focus on supporting growth, operational excellence and world-class governance at its portfolio companies to create value for investors. For more information about Bridge Growth Partners, please visit https://www.bridgegrowthpartners.com/.
About Accedian
Accedian is a leader in performance analytics and end user experience solutions for service providers and mid-to-large size enterprises. The Accedian Skylight platform offers granular end-to-end visibility within “the massive multi” – multi-layer, multi-cloud, and multi-vendor networks. Accedian’s open and scalable platform removes roadblocks to innovation, enabling cloud-native analytics and empowering customers to launch new assured services based on 5G, SD-WAN and edge technologies. Power your future with secure network performance. To learn more, visit accedian.com.
Contacts
For Bridge Growth Partners:
FGS Global
Brooke Gordon / Kevin Siegel
Brooke.gordon@fgsglobal.com / Kevin.siegel@fgsglobal.com