[Ed – Missed this announcement in late September.]
AeroScout announced that it has received an investment from Cisco Systems, Inc. The funding will be used to continue AeroScout’s strong growth and market leadership through increased sales and marketing initiatives.
“The Cisco investment is a vote of confidence in AeroScout’s innovative technology and the value of Wi-Fi-based Active RFID for customers,” said Yuval Bar-Gil, CEO of AeroScout. “This relationship will better enable the two companies to take advantage of the strong synergies between Cisco’s wireless networking equipment and AeroScout’s Active RFID solutions.”
AeroScout solutions enable enterprises across multiple industries to take advantage of existing Cisco Wi-Fi networks to locate and manage high-value assets easily and at a low total cost of ownership. This delivers increased asset utilization, streamlined operations, and improved productivity, all resulting in tangible and rapid ROI. AeroScout is a member of both the Cisco Technology Developer Program and the Cisco Solutions Technology Integrator Program.
Under the terms of the agreement, Cisco has acquired a minority equity stake in AeroScout.