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Cisco is ready to sink money into file virtualization startup NeoPath, although the extent of the relationship remains unclear.
Neither company would comment on an impending deal, but a source close to NeoPath says Cisco will invest an undisclosed amount in the startup's next funding round, which will probably total in the $12 million to $15 million range.
Separately, there are others whispering that the round also includes an OEM deal and a right of first refusal for Cisco to buy the company.
Not so, says the NeoPath source. "Thats 100 percent false," the source says. "They don't have an OEM deal or right of first refusal. Would NeoPath like an OEM deal down the road? Sure. But there's nothing discussed yet, and there's no talk of a sale. All of NeoPath's previous investors are also involved in the funding."
NeoPath's product manages files stored across different NAS systems as one big pool, using virtual namespace and load balancing. The technology has been in demand over the last couple of years.
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