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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Mighty Mizzou who wrote (61416)	9/16/1999 8:54:00 AM
From: Tech Bull	Respond to of 61433

Ashby bags $124M from the dark side ... Hi all - from TheStreet.com: thestreet.com In a twist of Silicon Valley irony, Michael Ashby has found riches at the company he fought for nearly three years. In 1997, Ashby became chief financial officer of the then-struggling Internet supplier Ascend and started waging war each day with powerful Cisco (CSCO:Nasdaq). In June, Ascend, by then much stronger, was acquired by telecom giant Lucent (LU:NYSE), another Cisco foe. But Ashby left to become CFO of Cerent, expecting to help take the optical-network supplier public. Instead, he found barbarians at the gate in the form of Cisco's M&A team. And Ashby helped craft Cisco's $7 billion buyout of Cerent, a company with just $10 million in annual revenue. The deal was announced on Aug. 26. Such is life in the Internet world. "To a certain extent I'm disappointed, but how can you turn down a price like that?" Ashby says. True enough for Cerent -- and Ashby himself. He now has stock options in Cisco that, while they haven't vested yet, are worth $124 million. (He scored $34 million when Lucent acquired Ascend.)