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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: James Sinclair who wrote (8173)10/12/1999 11:28:00 AM
From: JohnG  Read Replies (1) of 54805
 
CSCO Hungry For Acquisitions
JohnG

GENEVA, SWITZERLAND, 1999 OCT 11 (NB) -- By Ken Woo, Newsbytes.
Unable to satisfy its hunger for acquiring other companies, Cisco
Systems [NASDAQ:CSCO], the world?s largest maker of computer
networking equipment, announced Monday that it is stepping up its
efforts.

Speaking at the Telecom 99 trade show in Geneva, Cisco President
John Chambers said that his company plans to make more than 20
purchases next year for up to $10 billion in cash and stock.

"I hope to acquire between 20 and 25 companies a year," Chambers
said during the news conference. "Our research and development
has grown from seven to 13.5 percent of sales."

Cisco has purchased 42 companies in the past six years but
Chambers said that he is far from done. He plans to buy a number of
companies in Europe specializing in data, voice and video integration
to software applications.

He has bought 12 companies this year alone, including Cerent Corp.
for $6.86 billion.

The San Jose, California-based company is hoping to capitalize on the
huge Internet boom in Europe. It expects to make $4 billion alone in
online sales in the region for this year.

Cisco is also looking towards wireless broadband in Europe as
another potential market to tap into.

Reported by Newsbytes.com, newsbytes.com
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