Cisco Buys Software Maker PostPath - TheStreet

Cisco Buys Software Maker PostPath

The Linux-based email and calendar function provider comes at a price tag of $215 million.
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Cisco

(CSCO) - Get Report

said Wednesday it will acquire software maker

PostPath

to enhance the company's email and calendar capabilities.

The San Jose, Calif., networking giant said it will pay $215 million in exchange for privately held PostPath, the Mountain View-based provider of a Linux-based email and calendar functions that is compatible with a number of mobile clients.

Cisco said the acquisition will allow it to extend its email and calendar functionality of its flexible software-as-a-service platform that includes instant messaging, voice, video, data, document management and Web 2.0 applications. Cisco said the acquisition is expected to be completed in its fiscal first quarter.

"The acquisition of PostPath complements our strategy to develop an integrated collaboration platform designed for how we work today and into the future, providing real productivity gains and a more satisfying user experience," said Doug Dennerline, Cisco senior vice president, Collaboration Software Group. "Our 'cloud-based' delivery model offers our customers rapid deployment and compelling economics."

Shares of Cisco were lately up 8 cents, or 0.3%, to $24.19.