Cisco to buy Lightwire for $271 million
Lightwire Inc.Cisco Systems to buy Lightwire for $271 million
Cisco Systems Inc. is all set to acquire another company and this time its Lightwire. Cisco, the World’s Largest Networking-Equipment maker, agreed to buy Allentown, Pennsylvania-based company LightwireInc for $271 million to add optical connectivity tech used in high speed networks. The sum will be paid in cash and retention-based incentives and will probably be completed in the fiscal third quarter. Lightwire’s technology would help Cisco’s customers to meet growing demand for video, data and so-called cloud services. Chief Executive Officer John Chambers has eliminated jobs and exited
Cisco Systems to acquire Lightwire for $271 million
businesses in a bid to reverse the slide that knocked 11 per cent off San Jose, California-based Cisco’s share price last year. According to Times of India, Cisco rose 0.2 per cent to $20.28 in early trading at 8:39 a.m. New York time.
Source: Times of India
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