Tech giants buying out local startups
Big US tech companies are snapping up Greek startups, integrating their technology and their small teams into their own projects.
Just this year, there have been nine acquisitions of Greek startups by companies such as Cisco, Dell and Hewlett Packard Enterprise.
Cisco has acquired Code BGP, a 2-year-old startup which, besides its three founders, employs six other people.
Cisco was interested in its software for Border Gateway Protocol (BGP), which enables the internet to exchange routing information between autonomous systems, thus facilitating communication.
“The aim is to create a Cisco research and development center in Athens and Iraklio,” Fontas Dimitropoulos, a CodeBGP co-founder, along with Vasileios Kotronis and Lefteris Manassakis, told Kathimerini. Hirings are expected to take place soon, he added.
