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Cisco Announces Definitive Agreement to Acquire Navini Networks
Extends the Cisco IP Next Generation Network Vision to Deliver Wireless Broadband Services and Increase Internet Access in Emerging Markets
| Source: Cisco Systems, Inc.
SAN JOSE, CA--(Marketwire - October 23, 2007) - Cisco® (NASDAQ : CSCO ) today announced a
definitive agreement to purchase Richardson, TX-based Navini Networks, Inc.
a leader in the Mobile WiMAX 802.16e-2005 broadband wireless industry.
Navini is a pioneer in the integration of "Smart Beamforming" technologies
with Multi-Input Multi-Output (MIMO) antennas, a combination that improves
the performance and range for WiMAX services and lowers the overall
deployment and operational costs for service providers.
Navini's WiMAX products will extend Cisco's market-leading WiFi and
WiFi-Mesh portfolios, allowing Cisco to uniquely address the rapidly
growing markets for broadband wireless services.
The acquisition of Navini will help extend and enhance Cisco's IP Next
Generation Network (IP NGN) vision to enable service providers to deliver
any service to any device over any network -- a vision that Cisco calls the
Connected Life. The addition of broadband wireless products based upon
WiMAX will complement existing Cisco products and solutions to enable
service providers to deliver premium end-to-end Connected Experiences and
hasten their transition to becoming Experience Providers.
Cisco also expects that its broadband wireless solution portfolio, that now
includes WiMAX products, will play a key role in Cisco's Country
Transformation and "Digital Inclusion" initiatives to drive broadband
penetration to consumers and business in emerging countries.
"Emerging country service providers are in expansion mode, building out
broadband wireless networks and are concerned about deployment costs and
the availability of skilled resources," said Brett Galloway, vice president
and general manager of the Wireless Networking Business Unit, Cisco.
"Around the world broadband wireless networks based upon WiMAX have the
potential to add millions of new Internet users who cannot be reached
economically using copper or fiber infrastructures. Additionally, WiMAX
networks will help drive the transition to open IP-based broadband wireless
architectures and accelerate the rollout of new applications and services."
Cisco selected Navini based on its industry-leading product portfolio,
unmatched innovation and its real-world commercial deployments with service
provider customers worldwide. Navini offers a leading portfolio of
broadband wireless WiMAX solutions with comprehensive offerings including
base stations, adaptive antenna arrays, management systems, and subscriber
modems, which has been sold to more than 75 customers.
Under the terms of the agreement, Cisco will pay approximately $330 million
in cash and assumed options. The Navini acquisition is subject to various
standard closing conditions and is expected to close in the second quarter
of Cisco's 2008 fiscal year. Upon the close of the acquisition, Cisco plans
to integrate Navini into its Wireless Networking Business Unit, under the
Ethernet and Wireless Technology Group. This will be acquisition No. 124
for Cisco.
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