Tuesday, October 23, 2007

Cisco Buys Navini Networks For $330M

Cisco Systems has acquired Navini Networks, a Richmond, Texas-based maker of WiFi equipment. Cisco said it will pay $330M in cash plus assumped options for the company, which develops develops multiple input, multiple output (MIMO) WiMax products. Navini is venture backed by Arcapita Ventures, Austin Ventures, Granite Ventures, Intel Capital, Lehman Brothers Venture Partners, Sequoia Capital, and Sternhill Partners. The firm last raised a Series F venture round of funding in May of this year, worth $50M. Navini will become part of Cisco's Wireless Networking Business Unit, under the Ethernet and Wireless Technology Group.