Cisco Buys German-based IoT Big Data Firm

Computer comms giant Cisco has acquired Cologne, Germany-based ParStream, a company focused on big data analytics for the Internet of Things (IoT). Terms were not disclosed.

ParStream's analytics platform allows clients to store billions of records in a reduced space, filter and analyse them rapidly. Cisco says the buy complements its existing data and analytics portfolio and enhances its provision of analytics 'at the edge of the network', close to the source of data.

ParStream, which also has a location in Cupertino, CA, USA, is already part of Cisco's Entrepreneurs in Residence six-month start-up incubation programme, and will join Cisco's Data and Analytics Group when the acquisition is finalised, which should be in the next 3 months. Led by CEO Peter Jensen, the company had already raised about $14m in venture funding since launching in 2011.

In July this year, Cisco committed to invest more than $1 billion in multiple digital projects in the UK over the next three to five years - including $150m on what it calls 'Internet of Everything (IoE)' start-ups.

Rob Salvagno, head of Cisco's M&A and venture investment team, said in a blog: 'As the burgeoning Internet of Things becomes a reality, it's estimated that 50 billion devices and objects will be connected to the Internet by 2020. With this massive number of new connections, valuable data will be created at an even faster pace than most companies can manage'.

Web site: www.cisco.com .