Cisco to Acquire Nemo Systems
SAN JOSE, Calif., September 30, 2005 - Cisco Systems® today announced a definitive agreement to acquire privately-held Nemo Systems of Los Altos, Calif. Nemo Systems has developed leading-edge technology in the network memory space that will offer enhanced performance on Cisco's core switching platforms and service modules. Once incorporated into Cisco's products, the technology will allow customers to scale network systems and line card bandwidth while reducing the overall cost of high-performance networking systems.
Under the terms of the agreement, Cisco will pay up to $12.5 million in cash for Nemo. The acquisition is subject to various standard closing conditions, including applicable regulatory approvals, and is expected to close in the first quarter of Cisco's fiscal year 2006 ending October 29, 2005.
Upon close of the transaction, Nemo will become part of Cisco's Data Center, Switching and Security Technology Group (DSSTG) reporting to vice president and general manager Tom Edsall.
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