It looks like businesses have finally started embracing web 2.0 principles. At least, Cisco Systems is actively moving into this direction. On Thursday, Cisco announced that the company plans to acquire Latigent, a Chicago-based business intelligence and analytic reporting tools provider.

Latigent was co-founded in 2002 by CEO Chris Crosby and CTO Jason Kolb, who will both join Cisco after the close of the acquisition. The acquisition is expected to close in the first quarter of Cisco's 2008 fiscal year.

With this move, Cisco will be making a push into Web 2.0. Web 2.0 applications have already proven that when it comes to collaboration, the principles underlying web 2.0 are effective.