Cisco Systems completes acquisition of Kalpana.SAN JOSE, Calif.,--(BUSINESS WIRE)--Dec. 7, 1994--Cisco Systems has completed its acquisition of Kalpana, Inc., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. that is the leading provider of Ethernet switches worldwide. The acquisition follows an agreement signed Oct. 24, 1994, under which Cisco agreed to acquire all outstanding stock and assume all outstanding employee stock options and warrants of Kalpana. Completion of the acquisition was subject to several conditions, including approval of Kalpana shareholders, which was received on December 6. In announcing the Oct. 24 agreement, Cisco Executive Vice President John Chambers said the acquisition would expand Cisco's switching product line, which already includes ATM switches and high-end FDDI-equipped Ethernet switches, to include products that optimize network bandwidth for small workgroups and individuals. "Kalpana provides great value because their products are both cost-effective and high-performance. And their well-established indirect distribution channels are an excellent complement to Cisco's existing sales channels," Chambers said. Based in Sunnyvale, Calif., with 150 employees, Kalpana is considered to be the inventor of Ethernet switching. The firm's product line consists of modular and stackable platforms which extend the usability and data capacity of existing Ethernet LANs. Cisco Systems, Inc. is the leading global supplier of enterprise networks, including routers, LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. and ATM switches, dial-up access servers and network management software. These products, integrated by Cisco's Internetwork Operating System (IOS (1) (Internetwork Operating System) An operating system from Cisco that is the primary control program used in its routers. IOS is widely used and robust system software that supports the common functions of all products under Cisco's CiscoFusion architecture. ) link geographically dispersed LANs, WANs and IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) networks. Cisco is headquartered in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. and in the U.S., is traded under the 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 symbol CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer . CONTACT: Cisco Systems, Inc.
Steve Bauer, 408/526-4433
or
Ulevich & Orrange, Inc.
William Orrange
Janis Ulevich, 415/329-1590
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion