Datadog valued at $10.9B after reportedly rebuffing $7B offer from Cisco Systems>
Biz Journals – Vicki Thompson
Shares of the cloud software company Datadog rose 39 percent in their public market debut Thursday, valuing the company at $10.9 billion â $4 billion more than the takeover offer that Cisco Systems reportedly made shortly before the company went public. Cisco had offered more than $7 billion to acquire Datadog, Bloomberg reported Wednesday. Datadog competes with AppDynamics Inc., which Cisco bought for $3.7 billion in 2017, also right before the data analytics company was set to go public. Cisco has been on an acquisition spree in recent years. In July, it announced its plan to acquire Acacia Communications Inc., a small company that makes equipment that speeds up data transmission between data centers. Last month, the company announced its plan to acquire Mountain View-based Voicea to add AI-powered transcription and voice search to Webex.
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