Cisco is to acquire Summa Four, a provider of programmable switches.
Under the terms of the acquisition, between one and 1.4 million shares of Cisco common stock will be exchanged for all outstanding shares and options of Summa Four. Based upon Cisco's 27 July, 1998 closing price of $97.50, (#59.45) the stock exchanged would have a value of approximately $116 million (#70 million). Summa Four's open standards-based programmable switches will enable Cisco to offer value-added telephony applications to new and existing service providers as well as extending these services to a voice-over-IP infrastructure.
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