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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 75.19-0.1%Jan 16 9:30 AM EST
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To: elmatador who wrote (28489)9/30/1999 8:15:00 AM
From: Zoltan!  Read Replies (1) of 77400
 
>>Monterey, a Texas-based start up in which Cisco took a minority stake last month, makes wavelength routers for next generation optical networks. Cisco would not disclose the amount it has invested in Monterey, but it was significant enough to gain Graeme Fraser, Cisco's VP and general manager of optical internetworking, a seat on the board.

Minority stake?:

Dow Jones Newswires -- September 29, 1999
DJ Cisco Closes Monterey Networks Purchase For $500M In Stk

SAN JOSE (Dow Jones)--Cisco Systems Inc. (CSCO) completed its acquisitions of Monterey Networks Inc. and Cocom A/S.

In a press release Tuesday, Cisco said it purchased Monterey Networks for 7.3 million shares, worth $500 million. Cisco purchased Cocom for $65.6 million in stock.

Cisco shares closed Wednesday at 66 13/16, down 1 9/16 or 2.3%.

For the Monterey Networks purchase, Cisco said it expects to take a charge of 7 cents to 11 cents a share in the first quarter of fiscal year 2000.

A First Call survey produced an earnings estimate of 23 cents a share for the first quarter of fiscal 2000.

The Cocom acquisition will be accounted for as a pooling of interests.

Cisco makes networking equipment for the Internet.

interactive.wsj.com
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