Last week Parallels announced that it secured an equity investment from Cisco to support joint go-to-market activities. The companies intend to strengthen collaboration towards accelerating customer adoption of Parallels cloud service delivery products with Cisco cloud and data center infrastructure solutions.
The amount of the investment has not been disclosed, but Parallels press service confirmed to East-West Digital News that the US giant had acquired a stake of approximately 1%.
Parallels may have been valued at up to $500 million, RBC Daily quoted Finam analyst Anna Zaitseva as saying.
“In collaboration with Parallels, we are focused on offering a more efficient and easier-to-use cloud services delivery model for service providers,” said Cisco VP Hilton Romanski.
Parallels and Cisco have been linked since 2009, when Almaz Capital, a leading Russian venture fund established with the participation of Cisco, made its first investment in the company.
Founded by a Russian team in 1999, Parallels is a global provider of desktop virtualization and cloud enabling solutions. It is now established in North America, Europe, and Asia with three development centers in Russia.
