Illustration: Eniola Odetunde/Axios

Cisco Systems agreed to buy ThousandEyes, a San Francisco-based IT performance management platform. No financial terms were disclosed, but Bloomberg put the price tag at around $1 billion.

Why it matters: This is a pandemic-related merger on the upside, with the company accelerating its sale process due to concerns that it could struggle to meet added demand for its services.

ROI: ThousandEyes had raised around $110 million in VC funding, most recently at a $620 million valuation. Shareholders include GV, Thomvest Ventures, Salesforce Ventures, Sequoia Capital, Sutter Hill Ventures, and Tenaya Capital.

The bottom line: "ThousandEyes has made a name for itself with its service that watches pretty much the whole internet to help companies figure out the source of performance problems of websites and web-based apps. For instance, it can determine if an outage is the company's fault or that of its service providers." — Julie Bort, Business Insider

Go deeper

A new startup program puts the focus on urban issues

Illustration: Rebecca Zisser/Axios

As 2020 began, Scrum Ventures was already considering a new startup program focusing on tech for cities and the urban environment. Then the spring brought the coronavirus pandemic and a wave of protests following the killing of George Floyd, sealing the deal.

Driving the news: Scrum Ventures, in partnership with former NBA all-star player and investor Baron Davis, is debuting SmartCityX, a program aimed at helping startups connect with potential advisers and business partners.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 30,666,122 — Total deaths: 954,905— Total recoveries: 20,902,432Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 6,764,369 — Total deaths: 199,258 — Total recoveries: 2,577,446 — Total tests: 94,211,463Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: The dwindling chances of eliminating COVID-19.
  5. World: Guatemalan president tests positive for COVID-19 — The countries painting their pandemic recoveries green.
Updated 3 hours ago - Technology

Trump agrees to TikTok deal

Illustration: Sarah Grillo/Axios

President Trump on Saturday said he approved "in concept" a deal whereby TikTok will be allowed to continue operating in the U.S., with Oracle as its "trusted technology partner."

Why it matters: TikTok has nearly 100 million U.S. users, and is still growing fast. Trump has threatened to ban it, due to data privacy concerns related to TikTok's ownership by Chinese tech company.