Cisco is buying an Intel-backed startup that uses WiFi to track people as they move around malls and airports
- Cisco announced its intent to acquire July Systems, a startup that uses wifi to track people around physical spaces like malls, stadiums and airports.
- Cisco, which already partnered with July Systems, plans to scale the startup's technology and apply it to new physical spaces such as hospitals and government buildings.
- It's unclear how much Cisco will pay for July Systems. But the Sequoia and Intel Capital-backed start up was last valued at $45 million in a 2012 funding round.
In an announcement Tuesday, Cisco Vice President Rob Salvagno described the acquisition as part of the company's "journey to intent-based networking -a fundamentally new way of building and managing networks for the digital era."
July Systems, which is headquartered in Burlingame, California with offices in Bangalore, India, specializes in tracking mobile devices through retail spaces and stadiums.
The acquisition will enhance Cisco's ability to track locations indoors, while building out July Systems and fine-tuning its services for new industry-specific verticals like healthcare and government.
The startup, which has partnered with Cisco for several years, was last valued at $45 million in 2012, according to PitchBook. Some of its biggest name investors include Sequoia Capital and Intel Capital.
The terms of the deal with Cisco were not disclosed. It's expected to close in the first quarter of 2019.