Networking company Cisco Systems has announced it is to buy privately held Net American Internet, giving it the technology to compete in the coverging market for providers of telephone, cable and Net services.
Cisco already has an OEM agreement with the Massachusetts based company, and said that the acquisition will enable it to extend American Internet?s technology into other areas including the service provider line of business.
American Internet makes products for IP address management and Internet access, such as Network Registrar and Access Registrar, which are designed to make it provide simple and cost effective Internet access from devices such as set-top boxes and cable modems.
The acquisition will beef up Cisco?s technology as it prepares to compete in the converged world by providing equipment to telephone companies, ISPs and others building networks to combine data, voice and TV signals.
Under the terms of the deal Cisco will exchange $56 million in stock for all outstanding shares and options in American Internet. Cisco expects a one-time charge against earnings of between three and six cents per share. The acquisition is expected to be completed by the beginning of October.
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