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Cisco Buying WebEx for $3.2B in Cash

Provider of Online-Conferencing Services Competes vs. Microsoft’s Live Meeting

By Multi Channel News Staff -- Multichannel News, 3/16/2007 1:37:00 PM

Cisco Systems agreed to buy WebEx Communications, a provider of online-conferencing services, for $3.2 billion in cash.

WebEx lets business users hold real-time meetings and share documents over the Internet. Its main competitor is Microsoft’s Live Meeting service.

Cisco said WebEx, which has about 2,200 employees, will become a part of its development organization “while maintaining its unique business model.” WebEx, founded in 1995, reported 2006 revenues of $380 million and net profit of $48.6 million.

The deal would be Cisco’s second-largest in the past five years, after the networking company’s purchase of Scientific Atlanta last year for $6.9 billion.

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