Cisco Systems to Acquire WebLine Communications.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)--Sept. 22, 1999-- Internet-Based Communications Software (communications, software) communications software - Application programs, operating system components, and probably firmware, forming part of a communication system. These different software components might be classified according to the functions within the Open Systems Extends Web Collaboration and Email Management to Customer Support and E-Commerce Solutions 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 WebLine Communications of Burlington, MA. WebLine is the leading provider of customer interaction management software for Internet customer service and e-commerce. This acquisition underscores Cisco's commitment to the New World communications For the company controlled by Sun Myung Moon and his Unification Church which owns The Washington Times and United Press International, see . New World Communications network of integrated data, voice and video and strengthens its strategy to create an open software platform for enterprise and service provider customers. Under the terms of the agreement, Cisco common stock worth $325 million will be exchanged for all outstanding shares, warrants and options of WebLine. The acquisition will be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. and is expected to close in the second quarter of Cisco's fiscal year 2000. This acquisition has been approved by the board of directors of each company and is subject to various closing conditions including approval under the Hart-Scott-Rodino Antitrust Improvements Act The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (Public Law 94-435, known commonly as the HSR Act) is a set of amendments to the antitrust laws of the United States, principally the Clayton Antitrust Act. The HSR Act was signed into law by President Gerald R. . WebLine's products include web collaboration and email management tools. The web collaboration tool A collaboration tool is something that helps people collaborate. The term is often used to mean collaborative software, but collaboration tools were being used before computers existed, a piece of paper can for example can be used as collaboration tool. allows multiple parties to work collaboratively over the Internet. This software facilitates two-way information sharing See data conferencing. of web pages, forms, applications or voice calls using a web browser The program that serves as your front end to the Web on the Internet. In order to view a site, you type its address (URL) into the browser's Location field; for example, www.computerlanguage.com, and the home page of that site is downloaded to you. . In a customer service scenario, the software works by synchronizing the web pages of both the customer and the customer service agent enabling them to work collaboratively to solve a problem. As an example of an e-commerce infrastructure application, the web collaboration tool allows people in separate locations to shop collaboratively over the Internet. The email management tools will allow large businesses to effectively manage customer contact emails in a uniform manner. The software tracks incoming customer emails similar to tracking phone calls in a customer service center and manages the routing and response process. This acquisition complements the earlier acquisition of GeoTel. WebLine's products will be integrated with GeoTel's suite of distributed call center products. This acquisition expands Cisco's application platform to bring Internet-based technology to customer support environments. WebLine was founded in 1996. The 120 employees will be lead 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. Dan Keshian and will become part of the Applications Technology Group headed by Senior Vice President John Thibault. Based in Lowell, MA, the Applications Technology Group develops infrastructure applications to enable Cisco partners and customer to create solutions based on open Internet standards. About Cisco Systems Cisco Systems (Nasdaq:CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ) is the worldwide leader in networking for the Internet. Cisco news and information are available at http://www.cisco.com. This release may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company that involve risks and uncertainties. Readers are cautioned that these statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by Cisco with the SEC, specifically the most recent reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and 10-Q, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including risks associated with acquisition strategy, dependence on new product offerings, competition, patents, intellectual property and licensing, future growth, rapid technological and market change, manufacturing and sourcing risks, Internet infrastructure and regulation, international operations, volatility of stock price, financial risk management and potential volatility in operating results, among others. Cisco, Cisco IOS, Cisco Systems, Catalyst, and the Cisco Systems logo are registered trademarks of Cisco Systems, Inc. in the U.S. and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any of its resellers. (9907R) |
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