Cisco announces its intention to acquire Joulex
Cisco recently announced its intention to acquire privately held start-up JouleX for $107 Million (Around £69 million pounds). The deal is due to be completed and officially close during the last few months of 2013.
JouleX was founded by Tom Noonan in 2010 after his successful exit from Internet Security systems (ISS) a company sold to IBM for $1.3 million in 2006.
Joulex build power management technology for data centres and enterprises. From the inception of the company it has been partnered with Cisco who’s EnergyWise Effort was started in 2009 with the aim to make networking greener and more energy 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 costs’ Faiyaz Shahpurwala, Cisco’s senior vice president for industry solutions said in a recent statement. ‘’JouleX’s cloud enabled, agentless architecture will allow our partners and customers to quickly deploy this solution at scale in addressing their IT energy management needs’’
Once the deal has been completed the plan is for JouleX employees to become part of the Connected Energy Solutions team within Cisco’s industry solutions group which is currently lead by VP and GM David Goddard however it is not yet clear how long JouleX CEO and founder Tom Noonan will stick with the company under Cisco’s leadership. In a 2010 internet 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.