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Cisco CEO has bought 8 companies in 6 months and he’s still looking for more
Cisco
Cisco CEO Chuck Robbins
Since Chuck Robbins took over as CEO of Cisco a mere six months ago, Cisco has bought eight companies, more than one a month.
That includes a big $1.4 billion purchase of internet-of-things company Jasper Technologies earlier this month.
Plus Cisco bought three more companies since May when Robbins’ promotion to CEO was announced, making that a grand total of 11 companies in eight months under his watch.
And he has no plans to slow down his pace of buying anytime soon, he told analysts on the quarterly conference call. Robbins is on a mission to move Cisco into its future as fast as he can.
“You should expect us to continue the pace,” he told an analyst who asked about his acquisitions plans.
And there’s one good reason. There’s an upside to everyone’s fears that the economy is heading for trouble. Companies are cheaper to buy than they were a few months ago, when VC money was flowing heavy and the Valley was gripped in billion-dollar-valuation mania.
“Valuations in today’s markets, that’s one piece of good news [about the economy], they’re attractive,” Robbins said.
Robbins is on a mission to move Cisco as quickly as he can into what he sees as the next generation markets for the world’s largest maker of computer network equipment. He’s adding more software and software-as-a-service offerings, moving into the Internet of Things (where everyday objects get sensors and join the internet) and doubling down in hot areas where Cisco already rules, like security.
And he’s willing to buy his way there.
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