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

To: long-gone who wrote (59170)	5/1/2002 9:40:15 AM
From: JakeStraw	Respond to of 77400

Cisco to buy 2 companies for up to $258 mln in stock Reuters Business biz.yahoo.com SAN JOSE, Calif., May 1 (Reuters) - Cisco Systems Inc. (NasdaqNM:CSCO), the world's No. 1 maker of equipment that directs Internet traffic, on Wednesday announced definitive agreements to buy two privately held companies in exchange for up to $258 million of its common stock. San Jose, California-based Cisco said it expects a one-time combined charge for purchased in-process research and development not to exceed 2 cents a share related to the acquisition of Hammerhead Networks Inc. of Billerica, Massachusetts, and Navarro Networks Inc. of Plano, Texas. Both deals are expected to close in Cisco's fiscal fourth quarter. Cisco said it will acquire all outstanding shares and options in Hammerhead that it does not already own in exchange for common stock worth up to $173 million. Cisco currently holds a minority interest in Hammerhead, which was founded in 2000 and employs 85 people. Cisco also said it will buy all outstanding shares and options in Navarro that it does not already own for common stock worth up to $85 million. Cisco currently holds a minority interest in Navarro, which was founded in 2000 and employs 25 people. Cisco said Hammerhead's software products will augment its Internet Protocol (IP) aggregation portfolio, which includes cable, high-speed Internet and leased-line products, while Navarro's application-specific integrated circuit (ASIC) components will compliment Cisco's Ethernet switching products.