12 Aug '11, 4pm

Cisco Quietly Shuts Down Building Energy Management Program

Cisco Quietly Shuts Down Building Energy Management Program

Another one bites the dust. At the end of June, the names Google PowerMeter and Microsoft Hohm were chiseled on the grave marker of casualties in the race to build smart grid-linked software and gizmos. To this list of famous fallen, Cisco Systems adds its name, with an announcement yesterday that it will exit building management software services while also retreating from the home energy management market. You could be forgiven if you missed the announcement. The news was tucked into Cisco's fiscal fourth quarter earnings call . Amidst the perilous rollercoaster-ing of the markets of the past few days, Cisco showed signs of recovering from recent missteps, solidly beating expectations -- a performance rewarded by antsy investors with a 17 percent stock price runup. Almost lost in the din was the news that Cisco is unwinding its investment in the energy management market....

Full article: http://www.greenbiz.com/news/2011/08/12/cisco-quietly-shu...

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