All the sessions from Transform 2021 are available on-demand now. Watch now.
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 down a few years ago, but it has resumed, focusing more than ever on the consumer market and other Internet properties that are driving Web traffic. Most notably, it has acquired Five Across, Reactivity and the assets of Tribe all in the last few weeks.
You’ll see headlines elsewhere of a $3.2 billion purchase price, which includes WebEx’s $300 million in existing cash balance.
WebEx has more than two million subscribers. Cisco said that WebEx will give customers of Cisco’s existing products a better tool for interactivity and collaboration. Cisco’s officials said social networking is a trend that is pervading all markets, not just consumer related Internet applications, but also in business software applications. We’re on the conference call. Will update as necessary.
The deal is expected to close in the fourth quarter.
Here is the company’s statement.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more