The amount of the transaction was not disclosed.
The company will use the proceeds for go-to-market activities. In particular, the investment is intended to strengthen inter-company collaboration towards accelerating customer adoption of Parallels cloud service delivery products with Cisco cloud and data center infrastructure solutions. In conjunction with the agreement, the two companies also agreed to expand joint development, marketing and industry initiatives.
Founded in 1999 and led by Birger Steen, CEO, Parallels provides hosting and cloud service enablement and desktop virtualization. Parallels has more than 900 employees in North America, Europe and Asia.