Cisco Completes Acquisition of MOTO
SAN JOSE, Calif., June 2, 2010 Cisco (NASDAQ: CSCO) today announced it has completed its acquisition of MOTO Development Group. MOTO is a design consulting firm that develops innovative products and product strategies for the consumer industry. MOTO's talent base will complement Cisco's and enable Cisco to rapidly enhance its consumer product development road map.
With the completion of the transaction today, MOTO is now part of Cisco Consumer Products, led by Jonathan Kaplan.
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This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including the expected completion of the acquisition and the time frame in which this will occur, the expected benefits to Cisco and its consumer business, and plans regarding the integration of MOTO personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, the retention of employees of MOTO, the ability of Cisco to successfully integrate MOTO and to achieve expected benefits, business and economic conditions, growth trends in the consumer market and the networking industry, global economic conditions and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q filed with the SEC. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.
- Robyn Jenkins-Blum Cisco Systems, Inc. 408 853-9848 firstname.lastname@example.org