Cisco Systems to Acquire Parc Technologies, Ltd.SAN JOSE, Calif. -- Cisco Systems, Inc. (Nasdaq:CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ), today announced a definitive agreement to acquire privately held Parc Technologies, Ltd. of London, United Kingdom, which develops traffic engineering (TE) solutions and software for routing optimization. Parc is a spin off from a renowned center for research into search algorithms based at Imperial College, University of London For most practical purposes, ranging from admission of students to negotiating funding from the government, the 19 constituent colleges are treated as individual universities. Within the university federation they are known as Recognised Bodies . Parc's Route Server algorithms apply innovative technology to break up network routing problems involving complex Quality of Service constraints. These algorithms integrate specialized solvers and the solutions they generate can help Service Providers deliver high quality services while improving network utilization and reducing capital expenditure. Initially, Parc's technology will be used by Cisco in the planning and optimization of Multiprotocol Label Switching (networking) Multiprotocol Label Switching - (MPLS) A packet switching protocol developed by the IETF. Initially developed to improve switching speed, other benefits are now seen as being more important. (MPLS (1) (MultiProtocol Lambda Switching) The earlier name for GMPLS. See GMPLS. (2) (MultiProtocol Label Switching) A standard from the IETF for including routing information in the packets of an IP network. ) TE. Under the terms of the agreement, Cisco will pay approximately $9 million in cash for all outstanding shares not already held by Cisco. The acquisition of Parc is subject to various standard closing conditions and is expected to close in the first quarter of Cisco's fiscal year 2005. "Our customers are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. efficient technology with Quality of Service guarantees, reduced congestion The condition of a network when there is not enough bandwidth to support the current traffic load. congestion - When the offered load of a data communication path exceeds the capacity. , efficient back-up planning, fast restoration, and optimal provisioning. Cisco and Parc together have created a market leading MPLS traffic engineering planning and optimization application that brings immediate value to Cisco's customers," said Cliff Meltzer, senior vice president for Cisco's Network Management Technology Group. "We are excited to welcome Parc's highly specialized team of algorithm developers and software engineers to Cisco." Cisco will gain Parc's Route Server Software for Primary and Backup MPLS TE tunnel placement, and also a state-of-the-art hybrid optimization algorithm development platform. Parc's Route Server software will be incorporated into Cisco's MPLS Management product portfolio and will be made available as part of Cisco's IP Solution Center (ISC (1) (Internet Systems Consortium, Redwood City, CA www.isc.org) An organization founded by Paul Vixie, Carl Malamud and Rick Adams in 1994 and later sponsored by UUNET and other Internet companies. ). The integrated solution will compute and provision optimized traffic paths for both primary and fast restoration backup traffic. Upon close of the acquisition, the Parc 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. Gideon Agar Agar, in the Bible Agar (ā`gər), the same as Hagar. agar, substance obtained from seaweed agar (ä`gär, ā`–, ăg`är) will report to Cliff Meltzer, senior vice president, Network Management Technology Group. About Cisco Systems Cisco Systems, Inc. (Nasdaq:CSCO), the worldwide leader in networking for the Internet, this year celebrates 20 years of commitment to technology innovation, industry leadership and corporate social responsibility. 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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