Cisco Buys Producer Of Chips For Networks.
Cisco Systems Inc., a leading maker of Itnernet equipment said that it had agreed to buy the closely held Closely held A corporation whose voting stock is owned by only a few shareholders. Growth Neworks Inc. for about $355 million in stock, to add semiconductors that speed computer networks. Growth Networks, founded in 1998 and based in Mountain View, Calif., makes chips that help information flow faster through network switches and routers. Cisco wants to offer faster versions of its most expensive switches and routers to fend off competition from Lucent Technologies Inc., Juniper Networks Inc. and other phone-equipment makers. Cisco is based in San Jose, Calif.
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