Cisco to buy Greenfield Networks, a high-speed Ethernet data network co.
Cisco Systems, the Internet networking giant, said it has agreed to buy Greenfield Networks, a privately-held company which makes equipment that supports Metro Ethernet services.
Terms of the deal were not disclosed. Greenfield Networks was founded in 2000 and has 60 employees based in Sunnyvale, California and Bangalore.
Greenfield was backed by Sequoia Capital, Global Catalyst Partners, J.P. Morgan Partners (now called Panorama Capital), and Walden International with around $47.5 million. VentureWire notes that this is the 14th Sequoia-backed company Cisco has bought, of 62 total, and Cisco responds to their query about this, saying it shows no favoritism.
Sequoia’s former leader, Don Valentine, sat on the Cisco’s board for years, but left last year — so there appears to be no direct connection. Though several Cisco board members may own a few shares in Sequoia’s venture capital fund.
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