In a Sunday announcement, bigwig networking company Cisco Systems revealed that it is acquiring the 2006-founded privately-held cloud infrastructure startup Meraki for approximately $1.2 billion.
According to the terms of the acquisition deal, which will likely be finalized in Cisco's fiscal second quarter in 2013, Meraki - which is backed by companies like Google and Sequoia Partners - will become Cisco's new Cloud Networking Group.
In a Wednesday statement, bigwig networking equipment maker Cisco Systems said that it is appealing the European Commission (EC)’s unconditional approval to software giant Microsoft’s $8.5-billion acquisition of Internet-calling service Skype SA – a deal which closed in October 2011.
Stating that it does not oppose the Microsoft-Skype merger overall, Cisco said that its chief request to the General Court of the European Union would be to place conditions on the merger, such that Skype video-conferencing service would be required to operate with rival services.
Cisco's attempt has been called as "unmitigated gall" and "duplicity" by a Canadian judge who accused the company of using the same for goading US prosecutors so that they can push forward arrest of one of their former executives. He was the one who had sued the networking giant.
These comments were made by Justice Ronald McKinnon who has also ordered for a stay in the extradition of the ex-exec, Peter Alfred-Adekeye. He had been charged, in US, with close to 97 criminal cases related to hacking into the network of Cisco.
Cisco Systems has finally decided that it will be going to shut down its Flip video camera unit. This is part of its major retreat from the consumer electronics segment and comes two years after it paid $590 million for the same.
The California-based company has also decided that it will be laying off 550 workers as part of its restructuring strategy. But it is not sure whether the Boston unit will be closed or some other part. If that is the case then, employment of 2,000 employees are under threat who are working in that area.
An annual study commissioned by Cisco has ranked the UK 18 out of 72 in terms of quality and penetration of net services.
The annual report, which saw the UK at number 25 last year, looks at a number of factors, such as the number of homes equipped with broadband and the quality of the services. That is, the speed of the connection and the amount of time it takes data to arrive at a machine.
Cisco Systems, has launched its first home-grown product for users, a $599 gadget for videoconferencing from the living room.
The product- umi telepresence will help communicate with other owners of the device and also with users of Google’s free video chat service. In case of 32m US homes who boast of the minimum required upload speed, might be doubling the numbers by the end of 2012, Cisco executives said.
According to Zeus Kerravala, a Yankee Group analyst this product is aimed for the high-end niche buyer who wants quality and security.
Telecommunications giant BT has teamed up with Cisco Systems to launch its Content Connect broadband TV platform next year.
San Jose, California-based enterprise networking firm Cisco's Content Delivery System (CDS) will operate BT's Content Connect TV platform, which is designed to augment the online digital content viewing experience.
Commenting on the deal, Simon Orme from BT Wholesale said, "Working with Cisco enables us to offer an efficient, long-term solution and bringing the power of broadband and content together leads to exciting, innovative end user experience.”
BT Wholesale has announced that it had hit an agreement with Cisco to roll out its Content Connect broadband TV platform in 2011.
Under the deal, Cisco's Content Delivery System (CDS) will be the backbone for BT's Content Connect TV platform.
The deal will allow ISPs to purchase BT Wholesale Content Connect to deliver digital content to PCs, televisions and mobile devices with quality of service of viewing experience guaranteed to the end-users.
The content will be cached, to offer end-users with a steady level of service even at peak times.
Cisco has sorted out a recent flaw that cropped up whilst working on an Internet Work Operating System (IOS).
Cisco pronounced that the bug originated from the IOS router software which soared to form a web blackout for a short period of time, hindering the web accessibly for Internet users last week.
It was group of scientists from Duke University of Durham, North Carolina and Reseaux IP Europeens Network Coordination Centre (RIPE NCC) who found out the bug when they were handing ov er the Border Gateway Protocol
(BGP) data through the IOS.
Cisco Systems' shares crumbled in a bad state in after-hours of trading on Wednesday following technology firm's report of second-rate proceeds' results and John Chambers, the CEO of the firm, showed his annoyance over not being able to define the current scenario of the financial system.
Joe Terranova of Vitrus Investment Partners said that the sell-off jives with the total sentiment of all the money managers for now. It means that one needs to sell first and then should ask any question.
Cisco, the Networking organization, has proclaimed that it will launch a new device, Cius for stepping into the tablet sector.
Experts had been speculating the launch of the device in the beginning of this year, when Cnet's Buzz Out Loud got an anonymous e-mail suggesting the introduction of the device.
As per the information available in the email, Cius will be loaded with Google's Android operating system, in addition to a front-facing camera.
It will essentially be a 7-inch long mobile association device framed for use in business ventures.
Business users will get excited with the new Cius, a 7-inch Android tablet. It has a solid browser, being an Android device. Its browser operates over Wi-Fi or 3G/4G. Users can access business-based web apps locally or through a VPN client. In addition to that, it offers a virtual desktop through a Citrix-type client for legacy applications.
Cisco is targeting the lucrative corporate sector with its Android-powered business tablet, which is ultra-portable and weighs just 1.15lbs.
From the recent reports it was observed that Cisco Systems were all set to report higher earnings on a 25% revenue gain which emphasized the rebound in the corporate technology market.
On Wednesday's closing bell Cisco was set to report fiscal third quarter financials.
According to a consensus survey by FactSet Research, analysts expected earnings from the networking of 39 cents a share, on revenue of $10.2 billion.
Cisco Systems Inc has decided to waive condition that 90 per cent of shareholders of Norway's Tandberg ASA support its takeover offer as only 89 per cent of shareholders backed the $3.4 billion deal.
Previous month, Cisco extended its offer deadline along with sweetening its offer by 10 per cent after its original bid got turned down by more than 90 per cent of videoconferencing firm Tandberg's shareholders.
Speaking on the issue, spokeswoman for Cisco Kristin Carvell said, "We intend on pursuing all options available to us."
San Jose, California based Cisco Systems Inc., the world's largest maker of networking equipment, accepted to purchase Tandberg ASA for 17.2 billion kroner ($2.96 billion), with the aim of expanding its lineup of video-conferencing products.
As per Lysaker, Norway-based Tandberg, a sum of 153.50 kroner a share in cash would be paid by Cisco. The sum is 11 percent more than Tandberg's closing price yesterday in Oslo trading.
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