Cisco is going to be $5 billion richer thanks to the company’s board’s authorization of a stock buyback. The network giant’s top directors had previously authorized up to $47 billion in stock buybacks, starting in September 2001, according to Cisco’s press release.
Cisco will use the cash for more stock buybacks, additional investments in companies (perhaps like today’s announcement of a $150 million stake in VMware), and investments in its own business and R&D efforts.
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