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Cisco to buy Scientific-Atlanta for $6.9 billion
Dec 1, 2005 8:00 AM, Automation Update e-newsletter
Cisco Systems has announced plans to acquire Scientific-Atlanta.
The combined entity creates an end-to-end triple play solution for carrier networks and the digital home.
Under the terms of the agreement, Cisco will pay $43 per share in cash in exchange for each share of Scientific-Atlanta, and assume outstanding options, for an aggregate purchase price of approximately $6.9 billion, or approximately $5.3 billion net of Scientific-Atlanta's existing cash balance.
The acquisition is subject to various standard closing conditions, including regulatory approval and by the shareholders of Scientific-Atlanta.
Following the close of the transaction, Scientific-Atlanta will become a division of the Routing and Service Provider Technology Group under the leadership of Cisco Senior Vice President Mike Volpi.
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