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History 2000: Cisco Investing Heavily in Network Storage

Acquiring NuSpeed for $450 million

Cisco Systems has been investing heavily in network storage.

It has just completed the definitive acquisition, for $450 million, of NuSpeed Internet Systems in Maple Grove, MN, an enterprise involved in connecting SAN and IP networks.

NuSpeed, with 56 employees, which was founded last year under the leadership of CEO Mark Cree, will now operate within Cisco’s enterprise line managed by James Richardson.

In June, Cisco also indicated it would be teaming up with switch maker storage start-up worth following: SANgate Systems Inc., in Southborough, MA. The company is developing a dedicated, special purpose, intelligent platform for front-end to back-end e-commerce integration and for data interoperability across storage systems. SANgate raised $8.25 million in its first round of funding.

This article is an abstract of news published on issue 152 on September 2000 from the former paper version of Computer Data Storage Newsletter.