Cisco buys IPO-headed firm founded by IIT alumnus for $3.7bn

Cisco has announced its acquisition of AppDynamics, founded by IIT Delhi alumnus Jyoti Bansal, for $3.7 billion (₹25,000 crore) a day before the startup's IPO was slated to be priced. The IPO would have valued the applications management company at $1.9 billion (about ₹13,000 crore). AppDynamics' largest shareholders, Greylock Partners and Lightspeed Venture Partners, own 20.8% of the company.