SAN JOSE, Calif. -- November 30, 1998 -- Cisco Systems, Inc. today announced it has completed the acquisition of Selsius Systems, Inc. of Dallas, Texas.
On October 14, 1998 Cisco Systems announced a definitive agreement to acquire Selsius Systems, a wholly-owned subsidiary of Intecom Inc. Selsius is a leading supplier of network PBX systems for high-quality telephony over IP networks. Under the terms of the acquisition, shares of Cisco common stock and cash with an aggregate value of $145 million were exchanged for all outstanding shares and options of Selsius Systems. In connection with the acquisition, Cisco expects a one-time charge against after-tax earnings of between $.03 and $.06 per share for purchased in-process research and development expenses in the second quarter of fiscal 1999.
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