Cisco Systems Inc. has announced a definitive agreement to acquire Starent Networks Corp., a supplier of IP-ba...
October 14, 2009
Cisco Systems Inc. has announced a definitive agreement to acquire Starent Networks Corp., a supplier of IP-based mobile infrastructure products targeting mobile and converged carriers.
According to Cisco, the mobile Internet is at an inflection point as IP-enabled smart phones and other connected mobile devices gain rapid acceptance.
Service providers have been actively investing in this market as global mobile data traffic is expected to more than double every year through 2013, according to the Cisco Visual Networking Index.
Under the terms of the agreement, Cisco will pay US$35 per share in cash in exchange for each share of Starent Networks and assume outstanding equity awards for an aggregate purchase price of approximately US$2.9 billion. The acquisition has been approved by the boards of directors of both companies.