Cisco Systems will acquire an 80 percent stake of data center company Nuova Systems through a US$50 million investment, the networking company said Thursday.Nuova will become a majority-owned subsidiary of Cisco, with a view to further developing Cisco’s data center products. Cisco retained the possibility of investing an additional $42 million, along with the option of purchasing the remaining 20 percent of Nuova, which it said it may do late in its 2008 fiscal year or early fiscal 2009. The final price of the remaining stake would be determined based on the performance of Nuova’s products, Cisco said, but would be at least $10 million and a maximum of $578 million. SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe Nuova’s founders include former Cisco Senior Vice President and Chief Development Officer Mario Mazzola. He will remain with Nuova after the transaction. -Steven Schwankert, IDG News Service (Beijing Bureau)Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content opinion The changing face of cybersecurity threats in 2023 Cybersecurity has always been a cat-and-mouse game, but the mice keep getting bigger and are becoming increasingly harder to hunt. By Dipti Parmar Sep 29, 2023 8 mins Cybercrime Security brandpost Should finance organizations bank on Generative AI? Finance and banking organizations are looking at generative AI to support employees and customers across a range of text and numerically-based use cases. By Jay Limbasiya, Global AI, Analytics, & Data Management Business Development, Unstructured Data Solutions, Dell Technologies Sep 29, 2023 5 mins Artificial Intelligence brandpost Embrace the Generative AI revolution: a guide to integrating Generative AI into your operations The CTO of SAP shares his experiences and learnings to provide actionable insights on navigating the GenAI revolution. By Juergen Mueller Sep 29, 2023 4 mins Artificial Intelligence feature 10 most in-demand generative AI skills Gen AI is booming, and companies are scrambling to fill skills gaps by hiring freelancers to make the most of the technology. These are the 10 most sought-after generative AI skills on the market right now. By Sarah K. White Sep 29, 2023 8 mins Hiring Generative AI IT Skills Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe