MENLO PARK, Calif., Sept. 24, 1993 -- Cisco Systems today announced the completion of its acquisition of Crescendo Communications, Inc., a privately held networking company providing high-performance workgroup solutions to the desktop. Cisco and Crescendo signed an agreement on September 20, 1993 pursuant to which Cisco would acquire all outstanding stock and assume all outstanding employee stock options and warrants of Crescendo in exchange for 2,000,000 shares of Cisco common stock. The closing sale price for Cisco common stock on NASDAQ on Sept. 23 was $47.25 per share. Completion of the acquisition was subject to approval of Crescendo's shareholders, which was received on September 23, 1993.

In announcing the agreement on Sept. 21, Cisco president and CEO John Morgridge said, "The acquisition of Crescendo equips Cisco with a technology that will permit us even greater responsiveness to the requirements of our traditional workgroup market."