Cisco Buys Palo Alto Company

Wednesday, May 20, 2009  |  Updated 3:00 PM PDT
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Cisco Buys Palo Alto Company

AP

Cisco closes deal with Palo Alto company.

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Cisco Systems Inc. said Wednesday it has closed its $105 million acquisition of Tidal Software Inc.
 
Cisco hopes the deal will help create more efficient data storage and networking products. The company said last month that it would pay for the acquisition with cash.

Tidal, a privately held company that specializes in application-management software, is based in Palo Alto, Calif., and Houston.

Cisco shares fell 24 cents to $18.64 in afternoon trading.
 

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