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Cisco to buy WebEx for $3.2 billion, 03/15/07
Cisco announced plans to acquire online collaboration service WebEx for $3.2 billion, giving the network equipment giant a foothold in the software-as-a-service market.
WebEx, the popular online collaboration service, gives Cisco access to small and midsize companies and puts Cisco in competition with Microsoft’s LiveMeeting collaboration service. The deal is expected to close in the fourth quarter of Cisco’s 2007 fiscal year. The deal is Cisco’s largest since its acquisition of cable TV equipment maker Scientific-Atlanta in 2005, for $6.9 billion.
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