Key Developments: Cisco Systems Inc (CSCO.OQ)
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Latest Key Developments (Source: Significant Developments)
Cisco Systems Inc Completes Acquisition Of JouleX
Cisco Systems Inc announced it has completed the acquisition of privately held JouleX, a enterprise IT energy management for network-attached and data center assets. JouleX complements Cisco's existing services portfolio by using the capabilities of the network to gain visibility into and control energy usage across global IT environments. Full Article
Cisco Systems Inc Announces Intent To Acquire Composite Software, Inc.
Cisco Systems Inc announced that its intent to acquire privately held Composite Software, Inc., a data virtualization software and services. Headquartered in San Mateo, Calif., Composite provides software technology that connects many types of data from across the network and makes it appear as if it's in one place. The acquisition of Composite is expected to close in the first quarter of 2014, subject to customary closing conditions. Full Article
TiVo Inc To Gain $490 Million In Patent Settlement With Google Inc, Cisco Systems Inc-DJ
Dow Jones reported that TiVo Inc said it will receive an payment of $490 million from Google Inc. and Cisco Systems Inc. to settle patent litigation with both companies. Full Article
Cisco Systems Inc Declares Quarterly Cash Dividend
Cisco Systems Inc announced that Board of Directors declared a quarterly dividend of $0.17 per common share to be paid on July 24, 2013, to all shareholders of record as of the close of business on July 3, 2013. Full Article
Cisco Systems Inc Announces Intent To Acquire JouleX
Cisco Systems Inc announced intent to acquire privately held JouleX, an enterprise IT energy management for network-attached and data center assets. JouleX, with headquarters in Atlanta, GA, complements Cisco's existing services portfolio by using the capabilities of the network to gain visibility into and control energy usage across global IT environments. Upon completion of the acquisition, JouleX employees will be integrated into the Connected Energy Solutions team within Cisco's Industry Solutions Group, reporting to David Goddard, vice president and general manager. Under the terms of the agreement, Cisco will pay approximately $107 million in cash and retention-based incentives in exchange for all shares of JouleX. The acquisition of JouleX is expected to be complete in the fourth quarter of fiscal year 2013. Full Article
Cisco Systems Inc Challenges Microsoft Corp Buy Of Skype In EU Court-Reuters
Reuters reported that Cisco Systems Inc will try to convince Europe's second highest court on May 28, 2013 that it should overturn the EU's approval of Microsoft Corp's purchase of Skype. If Cisco wins the challenge at the Luxembourg-based general court, the European Commission would have to annul its decision, which allowed Microsoft to buy the Internet video and voice company without having to make any concessions. Cisco, which is appealing together with Italian fixed-line and Internet telephone provider Messagenet SpA, will argue that the Commission made several manifest errors in assessing the $8.5 billion Microsoft-Skype deal. It is expected to argue that the combined company's dominant share in the communications market gave it the ability and the incentive to refuse to provide data that would allow rivals to work with the merged firm's products. Full Article
Cisco Systems Inc Completes Acquisition Of Ubiquisys
Cisco Systems Inc announced it has completed the acquisition of privately held Ubiquisys. Headquartered in Swindon, U.K., Ubiquisys is a provider of intelligent 3G and long-term evolution (LTE) small-cell technologies that provide seamless connectivity across mobile heterogeneous networks for service providers. Ubiquisys employees will be integrated into the Cisco Mobility Business Group, reporting to Partho Mishra, vice president and general manager, Service Provider Small Cell Technology Group. Under the terms of the agreement, Cisco is paying approximately $310 million in cash and retention-based incentives to acquire the entire business and operations of Ubiquisys. Full Article
Cisco Systems Inc Issues Q4 2013 Guidance In Line With Analysts' Estimates-Conference Call
Cisco Systems Inc announced that for the fourth quarter of 2013, it expects revenue growth to be in the range of 4% to 7% on a year-over-year basis, non-GAAP earnings per share (EPS) to range from $0.50 to $0.52 per share, and GAAP earnings to be $0.07 to $0.10 per share lower than non-GAAP EPS. The Company reported revenue of $11.690 billion in the fourth quarter of 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $12.472 billion and EPS of $0.51 for the fourth quarter of 2013. Full Article
Marathon Patent Group Inc's Relay IP Files Patent Infringement Lawsuits Against Cisco Systems Inc and Others
Marathon Patent Group Inc's Relay IP (Relay) has filed patent infringement lawsuits in the United States District Court for the District of Delaware against Sprint Nextel Corporation, Juniper Networks, Cisco Systems, Bloomberg L.P., Hitachi Cable America, D-Link Corporation, Avaya, Hewlett-Packard Company, Enterasys Networks, Extreme Networks, TIBCO Software, BT Group, SAVVIS Inc., Zhone Technologies, Huawei Technologies, Allied Telesis, and Adtran (the Defendants). Relay is asserting infringement related to U.S. Patent number 5,331 ,637, entitled Multicast Routing Using Core Based Trees. The lawsuit alleges that the Defendants have infringed, and continue to infringe, the claims of the patent in suit by using the accused IP Multicast systems and methods covered by the claims of the Relay patent. Full Article
Cisco Systems Inc, IBM And Others Team Up On New Technology Project-Reuters
Reuters reported that Cisco Systems Inc, International Business Machines Corp (IBM) and Citrix Systems Inc have joined forces with other tech companies in a consortium to kickstart the corporate market for software-defined networking (SDN), aimed at making network management easier and cheaper. Other members of the development platform called OpenDaylight include Juniper Networks, Inc., VMware Inc, Microsoft Corp, Red Hat, Inc., Intel Corp and Brocade Communications Systems Inc as well as privately held Big Switch Networks and Arista Networks. Each member will contribute technology such as code to the project in an effort to share the costs of basic research and development, and enable products from different vendors to work together. Vendors will still be able to customize their offerings to differentiate themselves from rivals. The SDN market is still considered nascent, but is expected to grow to $3.7 billion by 2016 from an estimated $360 million this year, according to research firm IDC. The first code from OpenDaylight is expected to be released in the third quarter of this year. Full Article
Cisco to invest in Israeli venture capital funds
JERUSALEM - Cisco Systems will invest $15 million in Israeli venture capital funds as part of a broader plan to expand its operations in Israel and outside the United States, the company said on Wednesday.
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