Cisco will acquire Acano, a privately-held company based in London that provides collaboration infrastructure and conferencing software, for $700 million in cash and assumed equity awards, plus additional retention-based incentives for Acano employees who join the American IT giant.

Acano's hardware and software includes gateways, and video and audio bridging technology that allows customers to connect video systems from multiple vendors across both cloud and hybrid environments.

The acquisition is meant to accelerate Cisco's collaboration strategy to "deliver video everywhere".

The Acano team will join the Cisco Collaboration Technology Group led by Rowan Trollope, senior vice president and general manager. The deal is expected to close in the third quarter of fiscal year 2016, subject to customary closing conditions.

Acano was founded in 2012 and employs 170+ staff across four continents.

More information in the press release.

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