With Internet of Things forecasted to connect over 50 billion devices by 2020, the need to store valuable data online is very much on the radar of all the major technology companies. In this regard, Cisco doesn’t want to leave any stone unturned to monetize this market opportunity.
Cisco is preparing to acquiring ParStream, a private company located in Cologne, Germany whose analytics database allows businesses to analyze huge data volumes and store it anywhere in the network on real time basis. Future belongs to IoT, and the only thing that will differentiate winners from losers is how swiftly they analyze big data. ParStream’s world-class database enables the businesses to compute and analyze massive data volumes in a swift and effective manner.
ParStream uses indexing and compression that make it easy for customers to access data, analyze it and filter billions of records to get the right information and use it for various purposes. Cisco’s data and analytics portfolio is famous in all over the world, and with ParStream’s inclusion it’s likely to touch newer heights in the future. Earlier, ParStream chose to participate in Cisco Entrepreneurs in Residence program.
The acquisition is expected to close in the 2nd quarter of 2016.