SAN JOSE, Calif. - Dec. 16, 1999 - Cisco Systems, Inc. today announced a definitive agreement to acquire privately-held Worldwide Data Systems of Howell, New Jersey. Worldwide Data Systems is a leader in consulting and engineering services for converged data and voice networks. This acquisition underscores Cisco's strategy to accelerate deployment of New World data, voice and video networks for its enterprise and service provider customers.
Under the terms of the acquisition, shares of Cisco common stock with an aggregate value of approximately $25.5 million will be exchanged for all outstanding shares and options of Worldwide Data Systems. The acquisition will be accounted for as a purchase and is expected to close in the second quarter of Cisco's fiscal 2000. The acquisition has been approved by the board of directors of each company and is subject to various closing conditions.
Worldwide Data Systems provides an extensive set of methods and procedures for the design, implementation and delivery of Internet-based data, voice and video networks. Their portfolio includes consulting, engineering, network design modeling, interoperability/integration testing, training and associated support services. For example, using Worldwide Data System's expertise, enterprise and service provider customers can deploy VoIP solutions in multi-vendor networks or in environments that use a combination of old world circuit-switched technology and New World packet-based networks. Additionally, Worldwide Data Systems has developed the first automated voice over Internet Protocol (VoIP) test tool to rapidly and cost-effectively deploy VoIP solutions.
Worldwide Data System's suite of services will expand Cisco's service offering by transferring Worldwide Data System's knowledge and expertise to Cisco's ecosystem of professional service and channel partners. Through partner relationships, Worldwide Data System's resources will allow Cisco to increase deployment, services and support of New World networks. Worldwide Data Systems is currently working with leading service providers and Cisco partners in converged network deployments providing innovative engineering techniques to satisfy present and future customer needs.
Worldwide Data Systems was founded in 1988. Led by founder and CEO Nicholas Grieco, the company will become part of the Professional Services Business Unit within the Customer Advocacy group.
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