Friday, March 16, 2007

Cisco to Buy WebEx for $2.9B


WebEx's "network-based technology is a natural extension of Cisco's vision for unified communications and collaboration. This vision is to give users inside and outside the workplace the ability to interact collaboratively over the open platform of the Internet," Cisco Chief Development Officer Charles Giancarlo told a conference call.

Cisco has announced a series of small acquisitions this year of niche technology companies. WebEx showed Cisco was open to bigger deals, and Giancarlo said there may be more.

"Webex looks like a large acquisition, but it's less than 2 percent of our revenue and market cap. So I think that we will start to see more of these," he told Reuters in a phone interview.

Source: Cisco to Buy WebEx for $2.9B

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