SAN JOSE, Calif. - July 10, 1996 - CiscoSystems, Inc. today announced thecompletion of its purchase of StrataCom,Inc., following a July 9 vote of approval by StrataCom shareholders.
On April 22, the two companies agreed to a stock-swap agreement in whichshares of Cisco stock would be exchanged for all outstanding shares,options and warrants of StrataCom. Under the terms of the agreement, oneshare of Cisco common stock will be exchanged for one share of StrataComcommon stock. The transaction will be accounted for as a pooling ofinterests.
Cisco will restate its financial results for fiscal years 1992-1996 toreflect the acquisition. The transaction is expected to have a slightlydilutive impact on earnings in fiscal 1996, including transaction costs.
Cisco Systems (NASDAQ: CSCO) is the leading globalsupplier ofinternetworkingsolutions for corporate intranets and the global Internet.Cisco's products, including routers, LAN and ATM switches, dial-up accessservers and network management software, are integrated by the Cisco IOSsoftware to link geographically dispersed LANs, WANs and IBM networks.Company news and product/service information are available at World WideWeb site http://www.cisco.com.Cisco is headquartered in San Jose, California.
This press release contains forward-looking statements about future resultsthat are subject to risks and uncertainties. Cisco's actual results maydiffer from the results discussed in the forward-looking statements.Please refer to Cisco's publicly filed documents, including 10-Ks and10-Qs, for more information.