Cisco today announced its intention to acquire privately held startup JouleX for
$107 million. The deal is set to officially close in the fourth quarter of 2013.
JouleX was founded by Tom Noonan in 2010 after his successful exit from Internet Security Systems (ISS). ISS was sold to IBM for $1.3 billion in 2006.
JouleX builds power management technology for data centers and enterprises. From the company’s inception, it has had a partnership with Cisco. Cisco’s EnergyWise effort, which got started in 2009, is all about making networking IT greener and more power efficient.
“With network-enabled devices increasing exponentially, our partners and customers are asking for this solution today to operationalize their energy management capabilities in the network and reduce cost,” Faiyaz Shahpurwala, Cisco’s senior vice president for Industry Solutions, said in a statement. “JouleX’s cloud-enabled, agent-less architecture will allow our partners and customers to quickly deploy this solution at scale in addressing their IT energy management needs.”
Once the deal is closed, the plan is for JouleX employees to become part of the Connected Energy Solutions team within Cisco’s Industry Solutions Group, which is led by VP and GM David Goddard.
It’s not yet clear how long JouleX CEO and founder Tom Noonan will stick with the company under Cisco’s leadership. In a 2010 video interview, Noonan explained why he left ISS after the IBM acquisition to found JouleX. With the IBM ISS deal, Noonan noted at the time that his commitment was to stay with the company until it was integrated, which took approximately 18 months.
Sean Michael Kerner is a senior editor at Datamation and InternetNews.com. Follow him on Twitter @TechJournalist.
RELATED NEWS AND ANALYSIS
-
Ethics and Artificial Intelligence: Driving Greater Equality
FEATURE | By James Maguire,
December 16, 2020
-
AI vs. Machine Learning vs. Deep Learning
FEATURE | By Cynthia Harvey,
December 11, 2020
-
Huawei’s AI Update: Things Are Moving Faster Than We Think
FEATURE | By Rob Enderle,
December 04, 2020
-
Keeping Machine Learning Algorithms Honest in the ‘Ethics-First’ Era
ARTIFICIAL INTELLIGENCE | By Guest Author,
November 18, 2020
-
Key Trends in Chatbots and RPA
FEATURE | By Guest Author,
November 10, 2020
-
Top 10 AIOps Companies
FEATURE | By Samuel Greengard,
November 05, 2020
-
What is Text Analysis?
ARTIFICIAL INTELLIGENCE | By Guest Author,
November 02, 2020
-
How Intel’s Work With Autonomous Cars Could Redefine General Purpose AI
ARTIFICIAL INTELLIGENCE | By Rob Enderle,
October 29, 2020
-
Dell Technologies World: Weaving Together Human And Machine Interaction For AI And Robotics
ARTIFICIAL INTELLIGENCE | By Rob Enderle,
October 23, 2020
-
The Super Moderator, or How IBM Project Debater Could Save Social Media
FEATURE | By Rob Enderle,
October 16, 2020
-
Top 10 Chatbot Platforms
FEATURE | By Cynthia Harvey,
October 07, 2020
-
Finding a Career Path in AI
ARTIFICIAL INTELLIGENCE | By Guest Author,
October 05, 2020
-
CIOs Discuss the Promise of AI and Data Science
FEATURE | By Guest Author,
September 25, 2020
-
Microsoft Is Building An AI Product That Could Predict The Future
FEATURE | By Rob Enderle,
September 25, 2020
-
Top 10 Machine Learning Companies 2021
FEATURE | By Cynthia Harvey,
September 22, 2020
-
NVIDIA and ARM: Massively Changing The AI Landscape
ARTIFICIAL INTELLIGENCE | By Rob Enderle,
September 18, 2020
-
Continuous Intelligence: Expert Discussion [Video and Podcast]
ARTIFICIAL INTELLIGENCE | By James Maguire,
September 14, 2020
-
Artificial Intelligence: Governance and Ethics [Video]
ARTIFICIAL INTELLIGENCE | By James Maguire,
September 13, 2020
-
IBM Watson At The US Open: Showcasing The Power Of A Mature Enterprise-Class AI
FEATURE | By Rob Enderle,
September 11, 2020
-
Artificial Intelligence: Perception vs. Reality
FEATURE | By James Maguire,
September 09, 2020