Cisco Systems to Acquire PixStream Incorporated; Extends Cisco Broadband Leadership To Video Services.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)--Aug. 31, 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 it has entered into a definitive agreement to acquire privately held PixStream Incorporated of Waterloo Waterloo, town, Belgium Waterloo (vä`tərlō), commune (1991 pop. 27,860), Walloon Brabant prov., central Belgium, near Brussels. The battle of Waterloo (see Waterloo campaign) was fought just south of there on June 18, 1815. , Canada. PixStream is a leading provider of hardware and software solutions to distribute and manage digital video across all types of broadband networks  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. . The acquisition supports Cisco's vision to accelerate broadband deployments and build networks that enable service providers to offer data, voice and video services to businesses and consumers. Under the terms of the agreement, Cisco common stock worth an aggregate value of approximately $369 million (US) will be exchanged for all outstanding shares and options of PixStream. This acquisition will be accounted for as a purchase and is expected to be complete in the first quarter of Cisco's fiscal year 2001. In connection with the acquisition, Cisco expects a one-time charge for purchased in-process research and development expenses not to exceed $.02 per share. The acquisition has been approved by the board of directors of each company and is subject to various closing conditions. Video is expected to account for a growing percentage of traffic on the Internet, and the acquisition of PixStream is an important step in Cisco's plan to accelerate the delivery of broadcast-quality video over broadband networks. Cisco is the number-one market leader in broadband cable systems and the number-two market leader in broadband DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary systems. PixStream's technology extends Cisco's broadband market leadership into video services, allowing cable, DSL and wireless providers to deliver a single end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. for the delivery and management of broadband video services. Cisco's strategy is to enable its customers to provide Internet or IP-based entertainment services such as broadcast-quality TV, video-on-demand (VOD See video-on-demand. VoD - video on demand ) programming and multi-player games over broadband DSL, cable and wireless networks. PixStream was founded in 1996. The 156 employees will report to Lou Santora, vice president and general manager in Cisco's Service Provider Line of Business. 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. 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 U.S. and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. |
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