Cisco (Nasdaq: CSCO) has agreed to acquire Cologne, Germany-based data analytics technology developer ParStream as the companies aim to help enterprise clients manage data from connected systems.
Rob Salvagno, vice president of corporate business development at Cisco, wrote in a blog post published Monday the company expects to complete the acquisition in the second quarter of its fiscal 2016 year.
ParStream has built an analytics database with the goal of helping customers analyze, store and access huge volumes of big data in real time across the Internet of Things network.
Salvagno said he believes “real-time access to data derived from the connected equipment can lead to benefits like decreased equipment downtime through predictive maintenance, increased productivity, and historical analysis of environmental patterns.”
Cisco plans to integrate ParStream into Cisco’s data and analytics group after the deal closes.