Cisco agrees to buy Webline for $325 million in stock
(New throughout, adds closing stock price in last para)
PALO ALTO, Calif., Sept 22 (Reuters) - Cisco Systems Inc.,
<CSCO.O> the world's largest maker of computer networking
equipment, said on Wednesday it agreed to buy closely held
Webline Communications for $325 million in stock.
Cisco said that the acquisition, expected to close by the
end of January, gives it software that provides sophisticated
e-mail routing and lets, for example, customer service
representatives and customers synchronize Web pages on a site
so they are looking at the same thing at the same time.
"Let's say you call Land's End, you see a pair of boots you
like and you push the button and now you're talking to an
agent," said John Thibault, head of Cisco's Boston-based
applications technology group. "You want to place an order and
while you're sitting on the Website, the agent can have the
same page up."
The software works by synchronizing the web pages of both
the customer and customer service agent, letting them work
together to solve a problem, order a product, and the like.
The e-mail routing system allows large companies to track
incoming customer e-mails similar to tracking phone calls in a
customer service center, sending them to the proper
departments, such as customer service, accounting and others.
Under the terms of the deal, Cisco will exchange $325
million worth of its common stock in exchange for all
outstanding shares, warrants and options of Boston-based
Webline, which was founded in 1996 and has 120 employees.
Cisco said the acquisition, which the boards of directors of
both companies have already approved, complements its purchase
of GeoTel Communications Corp., makers of software that can
instantly match a customer's incoming call with his records.
Cisco stock rose $1.13 to $72.25 on the Nasdaq.
REUTERS
Rtr 18:53 09-22-99 |
