Today, I'm pleased to announce Cisco's intent to acquire JouleX, a leader in enterprise IT energy management for network-attached and data center assets. JouleX provides software for networked devices for enterprise and data center energy management, analytics, policy governance and compliance.

IT energy consumption is one of the largest unmanaged expenses and as a result organizations are seeking effective solutions to measure usage, improve optimization, and produce sustainability reports. Up to 50 billion objects are predicted to be connected to the Internet or interconnected machine to machine by 2020 as part of the Internet of Things (IoT) technology transition. Many of those devices will be in constrained environments, where space, bandwidth and power will be at a premium. Cisco networks are differentiated by how we securely scale this type of environment and power consumption will be a key attribute of that differentiation in the future. JouleX is a natural extension of IoT, one of the many technology transitions that make up the Internet of Everything.

The acquisition of JouleX exemplifies Cisco's innovation framework and supports Cisco's five foundational priorities by enhancing our service offering across all customer segments and advancing our business and technology architecture. The JouleX acquisition is aligned to Cisco's goals of developing and delivering innovative energy management solutions that streamline data and work flow across a unified network.