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Tech giant Cisco on Monday announced its intent to acquire Hungarian startup Banzai Cloud, which specializes in cloud-native applications, according to a report by state news wire MTI.
Venture capital firm PortfoLion Capital Partners, which led two rounds of funding for the company adding up to USD 5 million, confirmed the news.
"We are proud to have been able to help Banzaiʼs exceptionally capable founders and team succeed and see this as a good example of building local companies into global success stories," PortfoLion CEO András Molnár said.
Banzai Cloud, founded in 2017, employs 37 people.
PortfoLion is a member of OTP Group.