Cisco Systems Inc. /zigman2/quotes/209509471/composite CSCO -1.70% announced Thursday afternoon that it intends to acquire ThousandEyes, a security-software company, reportedly for close to $1 billion. San Francisco-based ThousandEyes has raised more than $100 million in venture capital to develop software that monitors how a company's applications are being used on the internet. "The combination of Cisco and ThousandEyes will enable deeper and broader visibility to pinpoint deficiencies and improve the network and application performance across all networks," said Cisco executive Todd Nightengale. Bloomberg News reported earlier in the day that the deal was in the works and could be completed Thursday, with a price tag approaching $1 billion. Cisco did not disclose the purchase price. Cisco expects the deal to close before the end of its fiscal first quarter, which begins in August.