San Francisco, (IANS) : To help accelerate the digital transformation of enterprises, global networking giant Cisco is set to acquire AppDynamics Inc, a US-based application performance management and IT operations analytics company, for $3.7 billion.

AppDynamics helps large enterprises translate vast amounts of complex, siloed data into business insights and empowers them to drive value for their customers.

“The acquisition of AppDynamics also supports Cisco’s strategic transition toward software-centric solutions that deliver predictable recurring revenue,” said Rob Salvagno, Head of Corporate Development and Cisco Investments, in a blog post on Wednesday.

This is Cisco’s largest acquisition since it acquired security firm Sourcefire for $2.7 billion in 2013.

The AppDynamics acquisition is expected to close in Cisco’s third quarter of fiscal year 2017.

AppDynamics will continue to be led by CEO David Wadhwani as a new software business unit under Rowan Trollope, Cisco Senior Vice President and General Manager, IoT and Applications business.