8-KOther Events

CISCO SYSTEMS, INC. 8-K Report (Dec 21, 2000)

Filed December 21, 2000For Securities:CSCO

Summary

Cisco Systems, Inc. (CSCO) announced on December 14, 2000, a definitive agreement to acquire ExiO Communications, Inc. for approximately $155 million in Cisco stock. ExiO Communications is a San Jose, California-based company. This acquisition is a strategic move by Cisco to further bolster its product offerings and market position in the telecommunications and networking sector. The consummation of the merger is contingent upon standard closing conditions, including the approval of the Merger Agreement by ExiO's shareholders and the successful completion of the regulatory review process under the Hart-Scott-Rodino Antitrust Improvements Act. Investors should monitor these conditions as they are crucial for the completion of the transaction.

Key Highlights

  • 1Cisco Systems, Inc. entered into a definitive agreement to acquire ExiO Communications, Inc.
  • 2The acquisition price is approximately $155 million, to be paid in Cisco stock.
  • 3ExiO Communications, Inc. is based in San Jose, California.
  • 4The transaction is structured as a merger and reorganization.
  • 5Key closing conditions include ExiO shareholder approval and clearance under the Hart-Scott-Rodino Antitrust Act.
  • 6The announcement date of the agreement was December 14, 2000.

Frequently Asked Questions

While the 8-K filing does not explicitly state the strategic purpose, acquisitions of this nature by Cisco Systems typically aim to enhance its product portfolio, expand market reach, or integrate new technologies to maintain its competitive edge in the networking and telecommunications industry.

Cisco will pay approximately $155 million for ExiO Communications, Inc., with the payment being made in shares of Cisco's common stock.

The primary conditions for closing the acquisition include the approval of the merger agreement by the shareholders of ExiO Communications, Inc. and the satisfactory completion of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, which ensures compliance with antitrust regulations.

The definitive agreement for the acquisition was announced on December 14, 2000, and the Agreement and Plan of Merger and Reorganization was dated as of December 13, 2000.