My Burton Group colleague Mike Gotta's take on Cisco/WebEx -- see the post for more details
First, some history, many of the comments regarding WebEx and web conferencing are not the primary reason to do this deal. As I have told financial analysts for years while at Meta Group, the crown jewel of WebEx is the Media Tone Network. That distributed, P2P network architecture now belongs to Cisco who can either advance it, or use parts of it for its own application networking purposes. WebEx has data centers world-wide as well as research centers in China, etc.