Cisco Finalizes Agreement to Acquire Grand Junction
SAN JOSE, Calif., Nov. 6, 1995 -- Cisco Systems Inc. today announced thecompletion of its acquisition of Grand Junction Networks, Inc.>, aprivatelyheld networking company providing Fast Ethernet (100Base-T) and Ethernetdesktop switching products.
The acquisition follows an agreement signed on September 26, 1995pursuant to which Cisco agreed to acquire all outstanding stock and assumeall outstanding employee stock options and warrants of Grand Junction.
The acquisition extends Cisco's switching product offerings to therapidly-growing desktop switching segment. Grand Junction's management,employees and product line are now part of Cisco's Workgroup Business Unit,headed by Mario Mazzola, vice president and general manager.
Grand Junction developed and marketed the first Ethernet desktop switch,which provides dedicated Ethernet to the desktop. Grand Junction Networkspioneered the development of Fast Ethernet and was the first company todevelop and market Fast Ethernet products. Grand Junction Networks, foundedin 1992, employed 85 persons, most of them at the company's headquarters inFremont, CA. Information about Grand Junction Networks and its products isavailable on Cisco's World Wide Web site http://www.cisco.com.
Cisco Systems is the leadingglobal supplier of
http://www.cisco.com. Cisco is headquartered in San Jose, CA. Itsstock is traded in the United States on NASDAQ under the symbol CSCO.