ADVERTISEMENT

Cisco to buy Hungarian startup Banzai Cloud

Ecosystem

Valeriya Zankovych / Shutterstock.com

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.

Image by Valeriya Zankovych / Shutterstock.com

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.

ADVERTISEMENT

BorgWarner, Jabil to invest in Hungarian operations Automotive

BorgWarner, Jabil to invest in Hungarian operations

Industry out of Deep Water, but Investments Still Lag Analysis

Industry out of Deep Water, but Investments Still Lag

Hungary urges EU support for hard-hit hog farmers EU

Hungary urges EU support for hard-hit hog farmers

Dutcham to hold webinar on real estate investments during COVID Conferences

Dutcham to hold webinar on real estate investments during COVID

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.