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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 76.04-0.3%Nov 26 3:59 PM EST
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To: Helios who wrote (11175)12/23/1997 9:35:00 PM
From: Mark Ambrose  Read Replies (1) of 77400
 
USA TODAY article on the LightSpeed purchase. Here's the URL:
usatoday.com

----------------------------------------------------------------------
12/23/97- Updated 02:07 PM ET

Cisco Systems to buy LightSpeed

SAN JOSE, Calif. - Internet network developer Cisco Systems
announced it has signed a deal to acquire LightSpeed International, a
privately-held developer of voice signaling translation technology based in Sterling, Va., for approximately $160 million.

Between 2.7 million and 3.3 million shares of Cisco common stock will
be exchanged for the outstanding shares and options of LightSpeed.
The purchase price is based upon Cisco's Dec. 19 closing price of
$53.43 3/4 per share.

Cisco expects a one-time charge against after-tax earnings of between
11 cents and 15 cents per share related to ongoing process research
and development expenses in the second quarter of fiscal 1998. The
deal has been approved by the board of directors of each company
and is expected to be completed by mid-January.

The approximately 70 employees will be based in the greater
Washington, D.C., area and will become part of Cisco's service
provider line of business headed by Senior Vice President Don Listwin.

LightSpeed has developed technology that allows different phone and
communications systems to work together, enabling Cisco to expand in
the voice-over-the-Internet and other telecommunications markets.
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