Cisco (CSCO +1%) continues to look overseas for M&A targets: the company discloses it has...

|About: Cisco Systems, Inc. (CSCO)|By:, SA News Editor

Cisco (CSCO +1%) continues to look overseas for M&A targets: the company discloses it has bought SolveDirect, an Austrian provider of cloud-based software for integrating IT services. Cisco, which is looking to both software and services for growth, talks up SolveDirect's ability to automate service integration, and says its offerings will bolster its IT service portfolio. John Chambers recently stated Cisco will continue acquiring overseas until it can repatriate offshore cash at a lower tax rate.