Prem Jain Founded Insieme Raises $100 Million With Option To Buy


Fremont: One of the world’s biggest maker of computer-networking equipment, Cisco Systems has invested $100 million in Insieme, a networking startup, securing option for a buyout for up to a further $750 million secured, as it seeks to boost a turnaround with new product offerings.

Founded in February this year by the trio Prem Jain, Mario Mazzola, and Luca Cafiero, the California based Insieme was designed to be purchased by the computer networking giant, known as ‘spin-off’. The trio had earlier sold two startups, Andiamo Systems and Nuova Systems to Cisco, their ex-employer.

It is hoped that Insieme will boost Cisco’s portfolio in terms of software-defined networking that enables the firmware of switches and routers to be remotely accessible by third-party software, and allows for remote modification, an efficient and cost effective solution which bolsters network agility.

This spin-off will be beneficial for both the parties, since Cisco has already been investing a lot in Insieme’s work; existence of a profound financial and intellectual bond is credible which would help create innovative products faster.