Hashicorp co-founder Mitchell Hashimoto image: Hashicorp

According to a piece from The Information, Cisco — an active buyer of tech startups and companies — held preparatory talks to acquire HashiCorp, a company valued at $1.9 billion whose software manages applications that run on multiple cloud providers. But the deal appears to have not proceeded very far. Although there’s no word on why the discussions derailed, one theory could be the price Cisco would have to pay which would likely be a good premium to its recent $1.9 billion valuation.

HashiCorp is one of the top cloud infrastructure startups out there with impressive statistics. These include:

• $174 million total funding. 
• More than 300 employees.
• Partnerships with leading cloud providers like AWS, Google Cloud, Microsoft Azure, Oracle Cloud, Alibaba Cloud, and VMware.
• 45 million downloads of its open source products in 12 months (leading up to November 2018).
• More than 50 of the Fortune 500 and over 100 of the Global 2000 are paying customers.
• Big name customers like Cruise Automation, Credit Karma, Adobe, Hulu, Jet.com, Ripple, Segment, SAP Ariba, Spaceflight, and Citadel.
• Backed by top VCs including IVP, Bessemer Venture Partners, GGV Capital, and Redpoint Ventures.

Hashicorp CEO Armon Dadgar image: Hashicorp

Cisco is known for big acquisitions of other companies. From 2017 till date, the company has paid $1.9 billion for BroadSoft, $270 million for Accompany, $2.35 billion for Duo Security, and $660 million for Luxtera. So it’s no surprise the company may have looked into acquiring HashiCorp.

There have been other notable tech acquisitions as of late. They include Aurora’s acquisition of lidar startup Blackmore, GitHub’s acquisition of Dependabot, Pluralsight’s $170 million acquisition of GitPrime, Altice’s $200 million acquisition of Cheddar, and Microsoft’s acquisition of Express Logic.

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