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Cisco Acquires Telesend in Stock Swap

March 27, 1997|Reuters

Cisco Systems Inc. said it has acquired Cupertino-based Telesend Inc., a maker of technology that allows phone companies to offer high-speed Internet access connections. The acquisition, which was completed early this month in a stock swap, called for Cisco shares to be exchanged for all of Telesend's outstanding stock and options. San Jose-based Cisco said the company's employees, management and product line will be incorporated into Cisco's Wide Area Network business unit. The company did not disclose other terms and conditions of the acquisition of privately held Telesend. Cisco's stock soared $4.50 to close at $52.35 on the Nasdaq market.

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