Friday, July 16, 2010

Cisco Completes CoreOptics Buy

San Jose-based Cisco said this morning that it has completed its acquisition of CoreOptics, a developer of digital signal processing products for the high speed, optical networking market. Cisco said that CoreOptics employees have become part of its Cisco Service Provider Technology Group. CoreOptics was headquartered in San Jose, but has the majority of its employees in Nuremberg and Gerlingen, Germany. Cisco announced the deal in May, saying it would pay $99M for the firm. CoreOptics was backed by T-Com Venture Fund, GIMV, Crescendo Ventures, TVM Capital, High Tech Private Equity, Atila Ventures, Quest for Growth and others.