Oracle Corp. agreed to acquire Xsigo Systems Inc., a provider of network virtualization technology, continuing its buying spree to embrace cloud computing.
Financial terms weren’t disclosed.
Based in San Jose, Calif., Xsigo has more than 300 enterprise customers and its software-defined networking technology simplifies cloud infrastructure and operations. The privately held company, founded in 2004, was funded by Kleiner Perkins, Khosla Ventures, Greylock Partners and North Bridge Venture Partners, according to its website.
Oracle’s latest acquisition comes as more corporations turn to the cloud for software that is either installed behind corporate firewalls or streamed into their businesses from remote servers.
That Oracle has committed to buying Xsigo raises some interesting opportunities for Oracle in terms of their product and service offering, and I wonder what announcements we will see from this in the near future. Anything Oracle can do to improve their value proposition has to be a good thing for their customers and in market innovation which is good for everyone. I’m off to read more about the announcement, there’s an interesting letter from Oracle here.