Cisco acquires WebEx for $2.9 billion
Updated
Cisco Systems, the giant networking company best known for building Internet routers, has agreed to buy WebEx, the video conference company, for a net $2.9 billion in cash.
This is significant because it brings Cisco into yet another Internet application market, this time serving small and medium sized businesses. It continues a relentless string of acquisitions by the San Jose, Calif. company, which first became known in the 1990s for its acquisitive nature. The pace slowed… Continue Reading