Cisco Chief Says 'Low Probability' of Acquiring Ciena, WP Says
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Washington, Sept. 25 (Bloomberg) -- The chief executive of Cisco Systems Inc., John Chambers, said there is ''a very low probability'' the company would try to acquire Linthicum, Maryland-based Ciena Corp. because Ciena is too far from San Jose, California-based Cisco and too different in its corporate culture, the Washington Post reported. Without elaborating, Chambers told the Post that Ciena fails to meet those two of Cisco's criteria for acquisition targets. Chambers also said other criteria include a common corporate vision, long-term strategic importance and short-term gains for Cisco after an acquisition, the Post said.
Yesterday, Chambers, whose company sells $20 million of equipment a day over the Internet, arrived in Washington to meet with members of Congress debating a bill that would put a moratorium on new Internet taxes for several years. (WP 9/25 F2 www.washingtonpost.com) |
