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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (5870)	8/26/1999 1:59:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Vonod Khosla strikes gold again with sale of Cerent to Cisco cerent.com Cisco Systems Inc., in what is believed to be the highest price ever paid for a closely held technology company, has agreed to acquire networking start-up Cerent Corp. for about $6.9 billion in stock........... Vinod Khosla, Cerent's chairman and a prominent Silicon Valley venture capitalist, said the deal appears to be the largest ever involving a private technology concern. And for the investors who had put about $85 million into the company, it is a huge payday. Mr. Khosla's venture-capital firm, Kleiner Perkins Caufield & Byers, for example, invested about $8 million for what is now a 30.8% stake with an indicated value of $2.1 billion in Cisco shares. Carl Russo, Cerent's chief executive, owns a 5% stake valued at $342 million. Cisco had already held about 8.2% of Cerent through a $13 million investment last fall. Other Cerent investors include computer magnate Michael Dell, who bought $30 million of convertible notes just last month. Message 11070911