Latest purchase: Cisco agreed to buy AppDynamics, which makes software to manage and analyse applications. Pictured is its head honcho Chuck Robbins.
Cisco Systems Inc's surprise and costly acquisition of business software firm AppDynamics Inc just two days ahead of its market debut suggests that US tech startups are finding more value in buyouts amid a still-tepid IPO market.
Cisco said on Tuesday it agreed to buy AppDynamics, which makes software to manage and analyse applications, for US$3.7bil (RM16.3bil).
