Cisco Systems Completes Acquisition of Scientific-Atlanta.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. -- 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. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ) today announced it has completed the acquisition of Scientific-Atlanta of Lawrenceville, Georgia. Scientific-Atlanta is a leading global provider of set-top boxes, end-to-end video distribution networks and video systems integration. This acquisition will allow Cisco to offer a world class, end-to-end data, voice, video, and mobility solution for carrier networks and the digital home. On November 18, 2005, Cisco announced a definitive agreement to acquire Scientific-Atlanta. With the addition of Scientific-Atlanta technologies, the Cisco IP Next Generation Network architecture offers providers an open platform for service differentiation, allowing them to move beyond digital video/IPTV to develop and deliver a variety of integrated media services in the connected home. With the completion of the acquisition, the Scientific-Atlanta team, led by CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jim McDonald, has become part of the Routing and Service Provider Technology Group under the direction of Cisco Senior Vice President Mike Volpi. Under the terms of the agreement, Cisco paid $43 per share in cash in exchange for each share of Scientific-Atlanta, and assumed outstanding options, for an aggregate purchase price of approximately $7.0 billion, or approximately $5.1 billion net of Scientific-Atlanta's existing cash balance. The transaction is accounted for in accordance with generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting . Cisco anticipates this transaction will be neutral to its FY2006 non-GAAP (pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma ) earnings and slightly accretive to its non-GAAP (pro forma) FY2007 earnings. About Cisco Systems Cisco Systems, Inc. (NASDAQ:CSCO) is the worldwide leader in networking for the Internet. Information on Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com. Cisco, Cisco Systems, and the Cisco Systems logo are registered trademarks of Cisco Systems, Inc. and/or its affiliates in the U.S. and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. |
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