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 (ZT) Cisco Moves to Buy WebEx(硅谷华人创办的公司) for $2.9 Billion |
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starr
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作者：starr 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Cisco Moves to Buy WebEx for $2.9 Billion
Apparently not content to merely sell the equipment
that makes it possible to deliver the network service,
Cisco seems to have determined that it needs to
actually deliver the services as well. This is likely to
make everybody who delivers any kind of IT service
take notice and maybe even wonder if they want to
buy Cisco equipment in the first place when they may
find themselves competing with Cisco down the road.
The story can be read at
https://ct.enews.eweek.com/rd/cts?d=186-5813-49-642-260047-653638-0-0-0-1
Cisco to Buy WebEx for $2.9B
By Ritsuko Ando, Reuters
March 15, 2007
Updated: Cisco Systems said it will buy online videoconferencing company WebEx Communications for $2.9 billion as part of a strategy to sell comprehensive packages of communication products.
Be the first to comment on this article
NEW YORK (Reuters)—Cisco Systems said it will buy online videoconferencing company WebEx Communications for $2.9 billion as part of a strategy to sell comprehensive packages of communication products.
The deal, worth $3.2 billion including WebEx's existing cash, would be Cisco's biggest acquisition since the network equipment maker bought cable set-top box maker Scientific-Atlanta for $7 billion last year.
Cisco said on Thursday it will launch a cash tender offer for all outstanding WebEx shares at $57 each, a premium of 23 percent to their Nasdaq close at $46.20 on Wednesday.
The move highlights Cisco's expansion from its main business of making routers, which direct Internet traffic, to an increasing focus on "unified communications," which bundle mobile, Internet and other services into a single system.
WebEx has transformed videoconferencing, traditionally an awkward mix of software and hardware that allowed office workers to hold remote meetings using video, into an online service that allows anyone connected to the Web to hold secure conference calls.
Prudential analyst Inder Singh said WebEx's strength in the small-to-medium business (SMB) market would help Cisco expand its customer base of large companies including cable and phone carriers.
"Cisco is already ubiquitous in large enterprises, and it has been working to develop a similar, or larger, presence in SMB as well," Singh said in a research note.
WebEx shares surged $10.27, or 22.23 percent, to $56.47 on the Nasdaq. Cisco shares, also on the Nasdaq, rose 3 cents or 0.12 percent to $25.88.
A natural extension
Cisco has also been working on Web conferencing services and launched a high-end video conference product, TelePresence, late last year.
WebEx's "network-based technology is a natural extension of Cisco's vision for unified communications and collaboration. This vision is to give users inside and outside the workplace the ability to interact collaboratively over the open platform of the Internet," Cisco Chief Development Officer Charles Giancarlo told a conference call.
Cisco has announced a series of small acquisitions this year of niche technology companies. WebEx showed Cisco was open to bigger deals, and Giancarlo said there may be more.
"Webex looks like a large acquisition, but it's less than 2 percent of our revenue and market cap. So I think that we will start to see more of these," he told Reuters in a phone interview.
The deal has been approved by the board of directors of both companies and is expected to close during Cisco's fiscal fourth quarter, which ends in late July.
Cisco said it expects the deal not to impact its full-year 2008 earnings before special items and be slightly accretive in 2009.
Giancarlo also said the integration of WebEx would take one to two years, longer than many of its smaller deals. "We are going to go through an extended process of careful integration. We want to be thoughtful."
WebEx CEO Subrah Iyar will report to Giancarlo once the transaction is completed.
作者：starr 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 (ZT) Cisco Moves to Buy WebEx(硅谷华人创办的公司) for $2.9 Billion -- starr - (4073 Byte) 2007-3-16 周五, 16:29 (2512 reads)
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