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Cisco to Buy PixStream

September 01, 2000|Bloomberg News

Cisco Systems Inc. said it agreed to buy PixStream Inc. for about $370 million in stock to offer services that manage digital video sent across broadband networks. Cisco will take a one-time charge of no more than 2 cents a share to account for in-process research and development it gets with the purchase of the closely held company. PixStream, based in Waterloo, Canada, provides hardware and software that allows cable, digital subscriber line and wireless service providers to distribute and manage broadband video services such as TV and pay-per-view programming. San Jose-based Cisco rose $2.06 to close at $68.63 on Nasdaq.

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