Cisco Systems has created a new subsidiary by taking a majority stake in Nuova Systems a Santa Clara Calif.based startup founded by former Cisco executives.
Cisco announced the move late Thursday. Nuova technology will complement Cisco's datacenter product portfolio which includes Catalyst switches MDS storage switches SFS server networking switches and application acceleration offerings.
San Jose Calif.based Cisco has committed technology plus $ million in funding to Nuova gaining an percent ownership share of the company. Nuova's founders include former