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

To: Uncle Frank who wrote (24360)	4/13/1999 8:46:00 AM
From: Tumbleweed	Respond to of 77397

Cisco To Buy GeoTel In $2 Billion Deal SAN JOSE, Calif. (Reuters) - Cisco Systems Inc. (Nasdaq:CSCO - news), the leading maker of hardware that directs traffic on the Internet, said Tuesday it would buy GeoTel Communications Corp. (Nasdaq:GEOC - news) in a stock and option deal worth $2 billion. The deal expands the presence of Cisco in the telecommunications field. The company said in a statement that it had reached a definitive agreement to buy GeoTel. Under the deal, Cisco will exchange 0.5138 shares of its common stock for every outstanding share and option of GeoTel. The merger will be accounted for as a pooling of interests. It is expected to be completed in the fourth quarter of Cisco's fiscal year 1999, the statement said. The board of both companies have approved the deal. It is valued at about $2 billion, based on the stock's closing price Monday. GeoTel makes call-routing telecommunications software. Cisco said the purchase would help deliver voice communications over the Internet. Cisco shares closed Monday at 117-12/16. GeoTel, based in Lowell, Mass., closed at 44-4/16. --------------------------------------------------------------------------------