May 28, 2002 3:30 PM PDT
Cisco reaffirms acquisition terms
Cisco Systems reaffirmed plans to acquire a start-up in the next three months for about $150 million, according to company documents filed Tuesday with the U.S. Securities and Exchange Commission. In March, Cisco disclosed agreements with that company, which it is not identifying, and three other start-ups that could lead to acquisitions if certain terms were met. The company purchased the remaining interests in two of those companies--Hammerhead Networks and Navarro Networks--earlier this month for $258 million. The third, Andiamo Systems, will be acquired by Cisco by July of 2004, if at all, according to the filing, for a maximum acquisition price of $2.5 billion. So far, Cisco has funded $53 million of an $84 million commitment to Andiamo, according to the filing.