Piffer OT - And Other Assorted Nuts Message Board

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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts

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To: Jorj X Mckie who wrote (32120)	5/8/2000 1:12:00 PM
From: John Pitera	Read Replies (1) of 63513

MSDW's morning newsletter thoughts on CSCO... Cisco (CSCO-$68-SB) Acquires ArrowPoint; Reiterate Strong Buy George Kelly CSCO acquires web switch maker ArrowPoint (ARPT-$140-NR) for $5.7B. This is CSCO's 2nd largest acquisition. ARPT makes switches for ISPs, ASPs and e-commerce companies like EXDS, ATHM, NAVI. We believe ARPT products broaden CSCO's offering. ARPTs products will be added to CSCO's Catalyst line and its Layer 7 technology, elevating the functionality of CSCO's broad line. The acquisition will have a neutral impact on F2000 and will be accretive in C2001. No change to our model at this time. CSCO reports on 5/9, and investors will receive more detailed guidance then. We reiterate our Strong Buy rating and 12-month price target of $75. We believe this is a positive move that broadens CSCO's product offering and is in-line with its strategy of expanding its business in adjacent markets.

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