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CALIFORNIA | TECHNOLOGY | THE STATE

Cisco to Buy Ardent and Global Internet

June 25, 1997|(Bloomberg News)

San Jose-based Cisco Systems Inc. said it will buy two networking companies, as the world's largest maker of equipment to link computers augments its technology and product line. Cisco said it will buy the rest of closely held Ardent Communications Corp. for about $156 million in stock. It now holds a minority stake. Cisco will also buy Global Internet Software Inc. for $40.3 million in cash and take an undisclosed stake in the parent company, Global Internet.com, based in Palo Alto. Cisco will take charges totaling about 26 cents a share in its fiscal fourth quarter ending in July to cover costs associated with the acquisitions. Cisco shares rose 87.5 cents to close at $70.69 on Nasdaq. San Jose-based Ardent designs products that integrate voice, data and video on public and private networks. Its 40 employees will remain in San Jose.

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