Cisco’s acquisition of Working Group Two tops August news. In a deal expected to close by the end of October, Cisco will boost its Provider Mobility business and strengthen its IoT services.

Cisco buys Working Group Two to boost Mobility Services and IoT networks

The deal will see Cisco acquire Norwegian telecommunications provider Telenor’s 44.6% stake in Working Group Two for $150 million. This will provide Cisco complete control over Working Group Two, which counts more than 90 employees.

Cisco will integrate Working Group Two into its Provider Mobility business within Cisco Networking, including CEO Erlend Prestgard and CTO Werner Eriksen becoming part of the Cisco team under Masum Mir, SVP and GM for Cisco Networking’s Provider Mobility business. The deal is scheduled to close during the first quarter of Cisco’s 2024 fiscal year, which runs through the end of October.

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More August Money Moves

Grip Security, a SaaS identity risk management company, announced $41 million  Series B funding.

Rockset, a real-time search, analytics and AI apps company, announced it has raised $44 million in Series B funding.

Fianu Labs secures $2 million in seed funding from DataTribe.

Qase, a TestOps a company raised $6.7 million in funding to boost software testing.

Access management platform Cerby lands $17 million Series A funding.

Data privacy platform provider Osano secures $25M Series B.

AI-based platform provider, Middleware, lands  superior insight into cloud-native applications and infrastructure

Middleware, an artificial-intelligence-based cloud observability platform provider, announced that it has raised $6.5 million in seed funding.

Telefónica invests in Airalo in  recently closed funding round that raised $60 million in Series B funding.

IBM joins $235M Series D funding round of Hugging Face

Socket announced $20M of new funding led by Andreessen Horowitz.

Talent development platform GrowthSpace lands $25 million in Series B funding.

EQT Private Equity has to delist SUSE from the Frankfurt Stock Exchange.