Networking giant Cisco has taken another bite of the acquisition cherry after it announced yesterday it bought Wheelgroup for $124 million.
Wheelgroup, which is privately owned and is developing technology in the area of network security software, will receive around two million shares of Cisco common stock.
The Texan company has 75 employees who are expected to stay in place, and had been tipped as a candidate to float later this year.
The acquisition is likely to be complete by the middle of March and Cisco will account for the purchase by taking a one time charge.
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