Tuesday, May 29, 2007

Cisco Completes WebEx Buy

San Jose-based Cisco Systems has completed its acquisition of WebEx Communications, the firm said this morning. Cisco said that it acquired 46.3M shares of WebEx common stock as part of its previously announced tender offer. The $2.9B acquisition was originally announced in March. WebEx is a provider of web conferencing services. Cisco said that as part of its acquisition strategy, WebEx will continue its subscription-based services business model.