Cisco Systems to Acquire Netiverse, Inc.; Accelerating the Delivery of Web Content.Business Editors/High-Tech Writers 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)--July 7, 2000 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 a definitive agreement to acquire privately-held Netiverse, Inc. of San Jose, Calif. Netiverse is a leading provider of content acceleration technology that enhances the performance and functionality of networking devices. This acquisition supports Cisco's New World strategy to offer its customers a broad portfolio of content networking solutions for the delivery of web content. Under the terms of the agreement, Cisco common stock worth an aggregate value of approximately $210 million will be exchanged for all outstanding shares and options of Netiverse. Cisco currently holds a minority stake of 20% in Netiverse. This acquisition will be accounted for as a purchase and is expected to be completed in the first quarter of Cisco's fiscal year 2001. In connection with the acquisition, Cisco expects a one-time write off of up to $.02 per share for purchased in-process research and development expenses. The acquisition has been approved by the board of directors of each company and is subject to various closing conditions. Netiverse provides Cisco with content acceleration technology and expertise to help Cisco advance the development of next-generation content networking solutions. This acquisition strengthens Cisco's content networking solutions by offering its customers added performance capabilities for meeting the growing demands of distributing web content and managing large amounts of Internet traffic Internet traffic is the flow of data around the Internet. It includes web traffic, which is the amount of that data that is related to the World Wide Web, along with the traffic from other major uses of the Internet, such as electronic mail and peer-to-peer networks. . Netiverse's technology was developed specifically for use across multiple product lines and will be integrated into Cisco's existing content networking solutions. Netiverse, Inc. was founded in 1999. The 34 employees will be led by Netiverse 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. Gururaj Singh and will join the Workgroup Business Unit in Cisco's Enterprise Line of Business led by Senior Vice President James Richardson There have been a number of notable people named James Richardson:
About Cisco Systems Cisco Systems, Inc. (Nasdaq:CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ) is the worldwide leader in networking for the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the . News and information are available at www.cisco.com. Note to Editors: Cisco, Cisco Systems, and the Cisco Systems logo are registered trademarks of Cisco Systems, Inc. and/or its affiliates in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. |
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