CISCO announced their acquisition of an application performance management (APM) software company, AppDynamics today. AppDynamics filed IPO last month and was expected to be the first Tech IP0 of 2017. The deal is projected to have been closed for whopping $3.7 billion. The deal is made regarding cash and equity awards.

As per CISCO, the latest acquisition will help the company to monitor the application performance. CISCO had earlier acquired many other companies like the recent acquisition of Jasper Technologies by paying $1.4 billion. The AppDynamics acquisition will close in the third quarter of 2017. On January 2017, the company was expected to start trading on the Nasdaq Global Select market.

CISCO Buys AppDynamics for $3.7B ahead of 2017's First Tech IPO

New Relic, the biggest competitor of AppDynamics, went public in 2014. The current CEO of AppDynamics, David Wadhwani will continue to be in charge and will report to Cisco’s Rowan Trollope.

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