SAN JOSE, Calif. -- September 27, 1996 -- Cisco Systems, Inc. todayannounced it has completed the purchase of privately held Granite Systems,Inc., a Palo Alto, Calif.-based innovator in standards-based multilayerGigabit Ethernet switching technologies.
The acquisition follows a September 3 announcement of a stock-swapagreement in which shares worth approximately $220 million will beexchanged for all outstanding shares and options of Granite Systems. Thetransaction will be accounted for as a pooling of interests.
With the acquisition of Granite Systems, Cisco will give customers a widerchoice of backbone network technologies best suited for their individualnetwork environments.
Cisco Systems (NASDAQ:CSCO) is the leading global supplier of
This press release may consist of forward-looking statements that involverisks and uncertainties. These statements may differ materially fromactual future events or results. Readers are referred to the documentsfiled by Cisco with the S.E.C., specifically the most recent reports onForm 10-K and 10-Q, which identify important risk factors that could causeactual results to differ from those contained in the forward-lookingstatements.
Cisco IOS and Cisco Systems are trademarks, and Cisco and the CiscoSystems logo are registered trademarks of Cisco Systems, Inc. All othertrademarks, service marks, registered trademarks or registered servicemarks mentioned in this document are the property of their respectiveowners.
