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Cisco, NeoPath Make It Official

Cisco is officially entering the file virtualization arena though a strategic investment in NeoPath Networks.

NeoPath will formally announce a funding round led by Cisco this week. As reported last month, Cisco's investment could be just the first step in a relationship that includes an OEM deal or even an acquisition. (See Cisco Walks a NeoPath.)

NeoPath CEO Alan Baratz says the round totals $11 million including contributions from the startup's previous VCs, but he considers the lead investor more important than the amount raised.

"The funding was done for the purposes of having Cisco become an investor," he says.

Industry sources believe Cisco will eventually sell NeoPath's file virtualization software on its switches. It's also no secret that Cisco is always looking for startups to acquire.

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