- Bridge Growth Partners acquired a majority stake in Accedian in 2017
- With the acquisition’s close, the Accedian team will join Data Center and Provider Connectivity organization within Cisco Networking
- Bridge Growth is a private equity firm that targets investments in the technology and technology-enabled services sectors
Cisco Systems has agreed to acquire Accedian, a Montreal-based provider of network performance assurance solutions. No financial details of the transaction were disclosed.
The deal, expected to close in the first quarter of Cisco’s fiscal year 2024, will see Bridge Growth Partners sell its interest in Accedian. Bridge Growth in 2017 acquired a majority stake in the company.
With the acquisition’s close, the Accedian team will join Data Center and Provider Connectivity organization within Cisco Networking. Cisco is a digital communications technology company based in San Jose, California.
“Accedian was born in the heart of the world’s largest and most complex networks,” said Dion Joannou, CEO of Accedian, in a statement. “When we were acquired by Bridge Growth Partners, a leading technology investment firm, in 2017 we transformed the company, accelerated its growth, and evolved to a SaaS-first service assurance platform. Microseconds matter to customers and customer experience, and precise, granular performance visibility is a foundational requirement for closed-loop automation, agile telco cloud environments and latency-sensitive 5G services. We look forward to bringing our critical capabilities to a wider set of solutions within Cisco’s Networking portfolio and taking the next step in the partnership we have built with Cisco and our joint customers over the last years.”
Bridge Growth is a private equity firm that targets investments in the technology and technology-enabled services sectors. It has its headquarters in New York.
Accedian is being represented by Evercore as financial advisor and Willkie Farr & Gallagher and Stikeman Elliott as legal counsel.
(This post was updated to correct the description of Bridge Growth’s strategy.