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Recode Daily: Cisco snatched up AppDynamics for $3.7 billion just ahead of its IPO

The IPO pricing would have valued it under $2 billion.

Cisco CEO Chuck Robbins
Cisco CEO Chuck Robbins
Asa Mathat

On the eve of an IPO that would have valued it under $2 billion, AppDynamics sold to Cisco for $3.7 billion. AppDynamics makes software to help companies monitor and maintain their business systems, and the acquisition is part of Cisco’s shift away from hardware. — [Ari Levy / CNBC]

President Trump is set to sign orders today expediting work on a border wall and targeting sanctuary cities. He’s also preparing orders banning entry to people from a half-dozen Muslim-majority countries and suspending the U.S. refugee program. Meanwhile, the administration is ordering multiple agencies to stop their social media activity and other public communication. — [Jerry Markon, Robert Costa and Abigail Hauslohner / Wall Street Journal]

In the next update to iOS 10, Apple will start limiting how often apps can prompt customers to rate and review them in the App Store. — [Ina Fried / Recode]

With Manchester by the Sea, Amazon made Oscar history as the first internet company to notch a Best Picture nomination. The recognition gives Amazon a leg up on Netflix as they compete in the prestige-movie market. — [Ben Fritz and Laura Stevens / Wall Street Journal]

Toshiba is planning to spin off its chip business and hopes to raise about $1.8 billion by selling 20 percent of the new company. Toshiba is trying to offset a multi-billion dollar writedown for its U.S. nuclear business. — [Taro Fuse / Reuters]

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