Cisco Systems has agreed to buy US business software company AppDynamics Inc for about $3.7 billion (€3.4bn), making one of its largest deals of recent years.

Rob Salvagno, Cisco’s vice president of corporate development, said that the acquisition fits Cisco’s long-term direction and its transition toward software.

AppDynamics makes software that manages and analyses apps and currently has about 2,000 paying customers, including NASDAQ, Nike and its new owner, Cisco.

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