Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Sierra Wireless SW (Toronto) -- Ignore unavailable to you. Want to Upgrade?

To: Ron Schier who wrote (44)	11/9/1999 12:39:00 PM
From: Ron Schier	Read Replies (1) \| Respond to of 198

AIRO being bought out by CSCO. AIRO competes with SW. Cisco Systems to Acquire Aironet Wireless Communications; New Standards-based Wireless Technology Brings Internet Mobility to Businesses Cisco Systems to Acquire Aironet Wireless Communications; New Standards-based Wireless Technology Brings Internet Mobility to Businesses SAN JOSE, Calif., Nov 9, 1999 (BUSINESS WIRE) -- Cisco Systems, Inc. (Nasdaq: CSCO) today announced a definitive agreement to acquire publicly-held Aironet Wireless Communications of Akron, Ohio. Aironet Wireless Communications is a leading developer of high-speed wireless LAN products. This acquisition furthers Cisco's New World strategy to deliver open standards-based wireless solutions to mobile business environments. Under the terms of the acquisition, each share, option and warrant of Aironet Wireless Communications will be converted to 0.637 shares of Cisco common stock. Based on Cisco's closing price of $75 5/16 on November 8, the transaction has an aggregate value of approximately $799 million. In connection with the acquisition, Cisco expects a one-time charge against after-tax earnings of between $.03 and $.08 per share for purchased in-process research and development expenses in the third quarter of fiscal 2000. The acquisition has been approved by the board of directors of each company and is subject to various closing conditions, including approval under the Hart-Scott-Rodino Antitrust Improvements Act and by the shareholders of Aironet Wireless Communications. Cisco's acquisition of Aironet Wireless Communications will allow business customers to gain wireless capabilities that act as extensions to existing wired local area networks, extending the power of Cisco's New World vision to the wireless marketplace. Wireless LANs are in-building local area networks (LANs) that communicate using radio technology and enable personal computer users to establish and maintain a wireless network connection anywhere throughout a building. For example, a person with a wireless-enabled PC can check email, browse the Internet and access network resources - all while roaming throughout a building or campus. Aironet Wireless Communications' product portfolio includes wireless adapter cards and "access points" that interface with wired infrastructures and manage wireless LAN traffic. Aironet Wireless Communications also is an innovator of wireless bridge products that provide point-to-point or point-to-multipoint connections among buildings. Aironet Wireless Communications has a customer base comprised of leading Fortune 500 companies, including Dell, Ford, HP, IBM, Microsoft and Sears. Aironet Wireless Communications was founded in 1993. The 131 employees are led by CEO Roger Murphy and will join the Desktop Switching Business Unit within Cisco's Small/Medium line of business.