Cisco has announced that it intends to acquire privately held software maker ThousandEyes Inc.

As per industry sources, the deal is worth nearly $1 billion. ThousandEyes will be part of Cisco’s new networking services business unit.

As per the company, embedding ThousandEyes technology into Cisco’s networking portfolio will give unprecedented intelligence on the largest deployed base of networking equipment in the world.

Headquartered in San Francisco and founded in 2010, ThousandEyes provides internet intelligence.