Cisco Reportedly Near $1 Bln Deal for ThousandEyes

Cisco is reportedly targeting privately held company backed by Salesforce, Alphabet and others that analyzes network performance.
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Cisco Systems  (CSCO) - Get Report is reported to be in talks to acquire privately-held ThousandEyes Inc. for about $1 billion, according to a published report Thursday.

ThousandEyes offers software as a service aimed at monitoring network performance.

Talks between Cisco and ThousandEyes are in an advanced state with a deal potentially being announced Thursday, Bloomberg reported, citing people familiar with the matter.

An acquisition of ThousandEyes would compliment an earlier deal Cisco made for AppDynamics in 2017, according to the report. 

ThousandEyes was founded in 2010 by two UCLA grad students. The company has received venture funding from Sequoia Capital, Salesforce.com  (CRM) - Get Report and GV, the investment arm of Alphabet’s  (GOOGL) - Get Report Google, among others.

Cisco shares rose slightly in after-hours trading, gaining 16 cents, or 0.34%, to $45.75. In the regular session the stock fell 0.8%.

Elsewhere, stocks of cyber security companies were mixed Thursday.

Among notable cyber security stocks, nine rose while eight fell.

NortonLifeLock  (NLOK) - Get Report shares rose $1.08, or 5.44%, to $20.94. Mimecast  (MIME) - Get Report shares rose $1.16, or 2.94%, to $40.55. Akamai  (AKAM) - Get Report shares rose $2.94, or 2.94%, to $102.91.

Amond decliners, F5 Networks  (FFIV) - Get Report shares fell $3.02, or 2.08%, to $142.25. SailPoint  (SAIL) - Get Report shares fell 27 cents, or 1.16%, to $22.97. Palo Alto Networks  (PANW) - Get Report shares fell $2.40, or 1.04%, to $229.39.

The ETFMG Prime Cyber Security ETF  (HACK) - Get Report rose 9 cents, or 0.21%, to 43.46.

First Trust NASDAQ Cybersecurity ETF  (CIBR) - Get Report rose 16 cents, or 0.51%, to 31.39.

The Nasdaq Composite Index fell 43.37 points, or 0.46%, to 9,368.99.

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