Cisco Systems to Acquire CLASS Data Systems; Expands Offering for Policy Networking Solutions

SAN JOSE, Calif.--(BUSINESS WIRE)--May 4, 1998--Cisco Systems, Inc. (NASDAQ:CSCO) today announced it has signed a definitive agreement to acquire privately-held CLASS Data Systems of Ra'anana, Israel and Cupertino, California. CLASS Data's software solutions enable policy-based quality of...

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Bibliographic Details
Published inBusiness Wire p. 1
Main Author Business Editors
Format Newsletter
LanguageEnglish
Published New York Business Wire 04.05.1998
Subjects
Internet
Product development
Quality of service
Stock prices
CALIFORNIA
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Summary:SAN JOSE, Calif.--(BUSINESS WIRE)--May 4, 1998--Cisco Systems, Inc. (NASDAQ:CSCO) today announced it has signed a definitive agreement to acquire privately-held CLASS Data Systems of Ra'anana, Israel and Cupertino, California. CLASS Data's software solutions enable policy-based quality of service in Internet Protocol (IP) networks. Under the terms of the acquisition, shares of Cisco common stock and cash with an aggregate value of $50 million will be exchanged for all outstanding shares and options of CLASS Data. In connection with the acquisition, Cisco expects a one-time charge against after-tax earnings of between $.02 and $.04 per share for purchased in-process research and development expenses in the fourth fiscal quarter of 1998. The acquisition is expected to be completed by the beginning of June and is subject to certain closing conditions. This represents Cisco's first acquisition of a company in Israel.