Cisco has announced it will acquire LightSpeed International, a developer of voice signaling translation technology. Cisco will issue between 2.7 million and 3.3 million shares of stock, worth about $160 million (#100 million), for the startup and expects to take a second-quarter after-tax charge of between 11 and 15 cents per share for the deal. LightSpeed's 70 employees will become part of Cisco's service provider division. Officials for Cisco said in a release that LightSpeed's technology makes different phone and communications systems work together by allowing signals to be transmitted through various voice protocols and applications. In particular, Cisco said the technology can be used to interconnect PBX environments. The technology will help Cisco compete in the voice-over-Internet and voice-over-ATM markets. The deal, which has been approved by the boards of both companies, is expected to be completed by mid-January (see story, bottom left).
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