Cisco buys tech IPO candidate AppDynamics for $3.7 billion
So much for the first tech IPO of the year. #Cisco just snapped up #AppDynamics for $3.7 billion, one day before the software developer was scheduled to sell shares to the public at a valuation of less than $2 billion. AppDynamics develops software to help companies ranging from Capital One Financial to Expedia monitor their mobile apps and websites for bugs and fix them before customers drop off. Founded in 2008, the company generated revenue of $158.4 million in the first nine months of 2016, up 54 percent from the prior year.