Thursday, March 15, 2007

Cisco Buys WebEx For $2.9B

San Jose-based Cisco and Santa Clara-based WebEx said today that Cisco is acquiring WebEx in a $2.9 billion deal. Cisco will pay $57 per share for WebEx, in a purchase that totals $3.2 billion. The deal is worth $2.9 net WebEx's existing cash balance. The deal is expected to close in Cisco's fourth quarter. WebEx had revenues of $380M in 2006, and employs 2200. WebEx is a provider of online web conferencing services.