Pat, below you will find the press release from CSCO about acquisition of small company to provide last mile wireless connection.NN was has already selling products, won three large contracts within the last four weeks, and most likely todays headlines will talk how great technology CSCO is DEVELOPING. Developing!, because thay do not have product yet.
Regars
Zbyslaw
Cisco Systems to Acquire Clarity Wireless
Corporation
Cisco Makes Push into Last Mile Wireless Technologies
SAN JOSE, Calif.--(BUSINESS WIRE)--Sept. 15, 1998--Cisco Systems, Inc. today announced it has signed a definitive
agreement to acquire privately-held Clarity Wireless Corporation of Belmont, CA. Clarity is a leading developer of wireless
communication technology for computer networking and internet service markets.
This acquisition provides Cisco with fixed wireless technology, which complements Cisco's current last mile solutions
including dial, xDSL, and cable. Last mile technologies can be divided into two areas, narrow-band (dial) and broadband
(xDSL, cable and wireless), which enables the integration of voice, data and video. Clarity's technology is the first to
provide high-speed, reliable operation in obstructed environments, which have traditionally been challenging to wireless
network communications.
Under the terms of the acquisition, shares of Cisco common stock with an aggregate value of approximately $157 million
will be exchanged for all outstanding shares and options of Clarity not already owned by Cisco. In connection with the
acquisition, Cisco expects a one-time charge against after-tax earnings of between $.06 to $.09 per share for purchased
in-process research and development expenses in the second fiscal quarter of 1999. These per share numbers take into
account Cisco's three-for-two stock split effective today. Cisco has been a minority investor in earlier private placement
funding of Clarity. The acquisition is expected to be completed by November 1998, and is subject to certain closing
conditions.
Cisco Extends Broadband Access Capability into Fixed Wireless
Clarity's technology extends Cisco's broadband access portfolio of DSL and cable to include fixed wireless access.
Clarity's technology targets the point-to-point and point-to-multipoint markets. Clarity recently demonstrated its
breakthrough, high-speed (90Mbps) microwave communication system that operates with fiber-like reliability in long
distance, non-line-of-site links. In comparison, today's high-speed wireless communications require clear line-of-site paths
between end points. For the past year, the two companies have been developing wireless systems that integrate into Cisco
products.
Clarity has 39 employees and was founded in 1996. The Clarity team will relocate to Cisco's San Jose campus and will
report to Kevin Kennedy, senior vice president of the service provider line of business.
About Cisco Systems
Cisco Systems (NASDAQ:CSCO - news) is the worldwide leader in networking for the Internet. Cisco news and
information are available at cisco.com. |
