Cisco already has an equity investment in ip.access - as of January. So, why shouldn't it just go ahead and buy ip.access if the femtocell maker lands a 
whopping $500 million, 7-million-unit contract with AT&T? But this could be nothing more than rumor. At the time of the investment, Cisco spokesman John Noh said that Cisco was just exploring the market and that no one should expect any major femtocell-related product announcements from Cisco anytime soon.
Here's another intersting tidbit about this strange femtocell market (which is currently all about making cell phone coverage work better in homes and office buildings), Google is also an investor. In July, 2007, Google invested an undisclosed amount in Ubiquisys. (Could a Cisco/Google rivalry be coming one day?)
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Meanwhile, if you want to learn more about femtocell's check out the video below that explains it.
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Cisco acquired two cellular femtocell companies in yrs 1999-2000
Cisco acquired a cellular GSM femtocell/picocell startup company named Jetcell, and a cellular CDMA femtocell/picocell startup company named Exio almost 8 years ago. Both of these companies had working femtocell/picocell products. Cisco briefly marketed the GSM product acquired from Jetcell as part of a Cisco MNET concept, the product nomenclature was known as 'GP10' which connected with standard GSM cellphones. The CDMA product acquired from Exio never made it into the market. Shortly after the acquisition of both these companies the dot com bust occured and these products were shelved probably never to return. I imagine all the cellular engineering expertise Cisco acquired from these two companies have moved on.
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