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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Claude who wrote (27953)	8/26/1999 12:16:00 PM
From: Zoltan!	Respond to of 77399

Dow Jones Newswires -- August 26, 1999 DJ Cisco CEO Justifies Price Paid For 2 Private Cos NEW YORK (Dow Jones)--The chief executive of Cisco Systems Inc. (CSCO) justified the price paid for two privately held providers of next-generation computer networking equipment by noting the companies' growth prospects. "You're talking about growth that's going to be dramatically larger than any of the hot start-ups that have gone to market lately," John Chambers told CNBC Thursday. He added, "You're talking about who is going to be the leader in infrastructure build-outs." As reported earlier, Cisco Systems signed definitive agreements to acquire networking companies Cerent Corp. and Monterey Networks Inc. for a total of $7.4 billion in stock. "We've made opportunities like these in the past work very well," Chambers said. With these acquisitions, Chambers said, the leading maker of hardware is expanding its role in the optical-transport market, which is projected to be worth at least $10 billion in 2002. "It really speaks to how rapidly the Internet is evolving and that optical transport is the next huge wave," he said. interactive.wsj.com