RealTime IT News

Cisco to Acquire NetSpeed

Cisco Systems, Inc. reported it acquired NetSpeed Inc., a provider of Digital Subscriber Line (DSL) technology.

Under the terms of the agreement, between 3.7 and 4.0 million shares of Cisco common stock (subject to certain adjustments) will be exchanged for all outstanding shares and options of Austin, TX-based NetSpeed, a deal worth close to $236 million.

Cisco states that the acquisition will enable it to offer telcos and Internet Service Providers an end-to-end DSL solution, as well as offer consumers affordable DSL-enabled modems for home use.

The acquisition, approved by both companies' board of directors, is expected to be completed by April, pending regulatory approval.