Cisco Pays 7 Billion for Scientific-Atlanta

Cisco Pays 7 Billion for Scientific-Atlanta

SAN JOSE, Calif., February 27, 2006 – Cisco Systems, Inc., today announced it has completed the acquisition of Scientific-Atlanta of Lawrenceville, Georgia. Scientific-Atlanta is a leading global provider of set-top boxes, end-to-end video distribution networks and video systems integration. This acquisition will allow Cisco to offer a world class, end-to-end data, voice, video, and mobility solution for carrier networks and the digital home. Under the terms of the agreement, Cisco paid $43 per share in cash in exchange for each share of Scientific-Atlanta, and assumed outstanding options, for an aggregate purchase price of approximately $7.0 billion, or approximately $5.1 billion net of Scientific-Atlanta’s existing cash balance.

Seems Cisco is ’somewhat bullish’ on future prospects of IPTV.. 8-)

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