Cisco this week announced intentions to acquire ParStream, a privately held developer of databade analytics tools based in Cologne, Germany.
Terms of the deal were not disclosed.
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ParStream makes an analytics database for Internet of Things environments that allows companies to analyze large amounts of data and store it anywhere in the network. Using compression and indexing capabilities, the ParStream database filters billions of records, enabling customers to compute and analyze large amounts of data at the network edge in near real-time, Cisco says.
Instead of sending this data to a centralized server, a company can store the data at the edge of the network, closer to the source, and track results across a distributed network, Cisco says.
Cisco says the acquisition complements its current data and analytics portfolio and improves its ability to provide analytics at the edge of the network, where data is increasingly being generated in large volumes.
ParStream was part of the Cisco Entrepreneurs in Residence startup program, a 6-month incubation period that supports early-stage, product-focused efforts focused on Internet of Everything/Things, smart cities, big data/analytics, enterprise mobility and security.
The ParStream team will join Cisco’s Data and Analytics Group. The acquisition is expected to close in the second quarter of Cisco’s fiscal year 2016, which ends in January, 2016.