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Cogent Buys Cisco's Fiber-Optic Gear

March 07, 2000|Bloomberg News

Cisco Systems Inc., the No. 1 maker of computer networking gear, won a $280-million contract to supply Cogent Communications with fiber-optic equipment to link 12 U.S. cities on a new data network. Cogent, a closely held telecommunications company based in Washington, is buying equipment that operates at the fastest speeds now available for optical networks. Cisco, which is financing the purchase, expects to begin shipping the products later this year. Cisco has spent $9.8 billion in the last six months to acquire makers of fiber-optic equipment and enter a fast-growing market dominated by Nortel Networks Corp., Lucent Technologies Inc. and Alcatel SA. Shares of San Jose-based Cisco fell $1.31 to close at $136.13 on Nasdaq.

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