After proclaiming its intention to acquire a handful of companies, Cisco has spent almost $258m to close deals with two, although more are in the pipeline.
The networking giant yesterday announced definitive agreements to acquire privately held Hammerhead Networks for up to $173m in stock, and Navarro Networks for up to $85m in stock.
Both deals are expected to close by the end of Cisco's fourth quarter.
The purchases were previewed in March when Cisco filed its quarterly report with the Securities and Exchange Commission.
The company said at the time that it would pay up to $500m for three companies sometime before September and as much as $2.5bn for a fourth company before July 2004.
This still leaves acquisition money on the table for Cisco. Although it would not name the next predicted acquisition, it confirmed yesterday that its fourth and largest potential acquisition is storage startup Andiamo.
Yesterday's buys will help fill out different areas of Cisco's development.
Hammerhead develops software to accelerate the delivery of multiple IP services features, such as billing, security and quality of service, over cable without degradation in network performance.
Navarro's ASIC designs are set to be included in Cisco's ongoing development of next-generation Ethernet switching platforms.
Cisco already held minority stakes in both Hammerhead and Navarro and has been spending some of its funding of the two companies, as well as the as yet unknown third acquisition, to the tune of $29m.
For Andiamo, Cisco has already spent $38m of its funding on research and development.
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