Networking company Cisco has moved to acquire privately held MS Office collaboration start-up Versly. The financial information of the acquisition was not disclosed.
Versly provides a plug-in for MS Office that allows people to share and collaborate with their co-workers on documents, spreadsheets, email and presentation.
Based out of San Franscisco, Versly’s tool is undergoing beta testing with 250 users. The company was founded back in 2009 and has received funding from Accel Partners, Baseline Ventures and 500 Startups.
The company plans to integrate Versly’s collaboration technology into several of its products including Cisco Quad, Cisco Jabber and Cisco WebEx. Cisco believes that the acquisition will help its partners provide enhanced collaboration solutions to their customers.
The Versly team will join Cisco’s Collaboration Software Group, which addresses a market worth $45 billion, Cisco said.
"Collaboration is a top priority at Cisco. With this acquisition we're enhancing our collaboration offerings and improving the user experience by integrating social technologies within the business applications individuals and teams use at work," said Murali Sitaram, vice president and general manager, Collaboration Software Group (CSG), Cisco.
“Furthermore, the integration with Versly will drive productivity improvements for organizations and their knowledge workers, many of whom are among the 600 million Microsoft Office users." he added.