Cisco Completes the Acquisitions of Monterey Networks and Cocom A/S.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Sept. 29, 1999-- Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. , Inc. today announced it has completed the acquisitions of Monterey Networks, Inc. of Richardson, Texas Richardson is a suburb in Dallas County and Collin County, Texas. As of the 2000 census, the city had a total population of 91,803, while according to a 2006 estimate, the population had grown to 99,200. , and Cocom A/S of Copenhagen, Denmark. On Aug. 26, 1999, Cisco announced a definitive agreement to acquire privately-held Monterey Networks, an innovator of infrastructure-class, optical cross-connect A network device used by telecom carriers to switch high-speed optical signals (OC-3, OC-12, OC-48, etc.). It differs from a digital cross-connect in that it deals with multiple high-speed signals that are switched in their entirety and not multiplexed together. technology that is used to increase network capacity at the core of an optical network. Under the terms of the agreement, 7.3 million shares of Cisco common stock worth $500 million was exchanged for all outstanding shares, options and warrants of Monterey not currently owned by Cisco. In connection with the acquisition, Cisco expects a one-time charge against after-tax earnings of between $0.07 and $0.11 per share for purchased in-process research and development expenses in the first quarter of Cisco's fiscal year 2000. On Sept. 15, 1999 Cisco announced a definitive agreement to acquire privately-held Cocom A/S, a leading European developer of high-speed Internet See broadband. access solutions over cable, satellite and wireless networks based on international standards. Under the terms of the agreement, Cisco common stock worth $65.6 million was exchanged for all outstanding shares and warrants of Cocom. The acquisition will be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . Cisco Systems Cisco Systems (Nasdaq:CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ) is the worldwide leader in networking for the Internet. News and information are available at http://www.cisco.com. Note to Editors: Cisco, Cisco Systems, and the Cisco Systems logo are registered trademarks of Cisco Systems, Inc. in the U.S. and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Cisco with the SEC, specifically the most recent reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and 10-Q, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, acquisition strategy, manufacturing risks, risks associated with the Internet infrastructure, volatility of stock price, financial risk management and future growth subject to risks. |
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