VMware (VMW) has announced that it has closed the acquisition of VeloCloud Networks. The acquisition agreement was announced for the first time in late November 2017. VeloCloud Networks is a specialist in SD-WAN (software-defined wide area network) whose acquisition gave VMware an entry into the SD-WAN space. The financial details of the agreement were not disclosed.
Quoting IHS Markit, Channel Partners reported that the recent purchase of VMware from VeloCloud Networks has established it as one of the two best companies in the SD-WAN space. The other is Cisco Systems (CSCO).
Sanjay Uppal, CEO of VeloCloud (CEO), shared his thoughts on how the acquisition of VeloCloud will complement VMware in its strategy to advance its network goals and NFV (network function virtualization). Uppal said: "Companies are transforming the way they design and use their infrastructure, with a shift towards a software-defined model in the cloud, which allows organizations to have a coherent global infrastructure regardless of where it is deployed, from the center of data and the cloud to the edge ".
Profile of VeloCloud
Formed in 2012, VeloCloud received an offer to purchase VMware on November 2, 2017. Prior to its acquisition, the company had raised $ 84 million in funds in several rounds. At the beginning of March 2017, it raised $ 35 million in a Series D financing in which Cisco was one of the investors.
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