Cisco Systems to Acquire Actona Technologies
SAN JOSE, Calif.--(BUSINESS WIRE)--June 29, 2004--Cisco Systems, Inc. (Nasdaq:CSCO), today announced a definitive agreement to acquire privately held Actona Technologies, Inc. of Los Gatos, Calif. Actona is a developer of wide-area file services software that facilitates data management across geographically distributed offices. Cisco currently offers a Full Service Branch solution that combines enhanced wide area network (WAN) connectivity with advanced network security, IP voice communications, and business application and video acceleration services on a common platform. Actona's technology will augment that offering by expanding the functionality of Cisco's branch office access router portfolio with intelligent network services that enable WAN-optimized file transfer and access. In addition, Actona will extend Cisco's solutions for Data Center Storage Consolidation to the branch office.
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Under the terms of the agreement, Cisco will pay approximately $82 million in cash for all outstanding shares not already held for Cisco's account and will convert outstanding Actona options to Cisco options. The acquisition of Actona is subject to various standard closing conditions and is expected to close in the first quarter of Cisco's fiscal year 2005.
year career in sales and marketing with Hewlett Packard and Apollo Computer. He is a graduate of MIT with a bachelor's degree in electrical engineering and computer science and has an MBA from the Harvard Business School. Bill is currently on the boards of Lumigent, Red Hat, and WildTangent. He previously served on the boards of Alias Research (acquired by SGI), Avid Technology, CheckFree, Clarus, Course Technology (acquired by Thomson), Gateway Design Automation (acquired by Cadence), Mainspring Communications (acquired by IBM), MapInfo, Open Market (acquired by divine), Raptor Systems (acquired by Axent, now part of Symantec), Reflectent (acquired by Citrix), SightPath (acquired by Cisco), Spyglass (acquired by Open TV), Student Advantage and Tenth Planet (now part of Mattel).
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"The large amount of mission-critical information that resides on employee desktop, laptop computers and workstations needs to be shared, backed up, and archived. Today's distributed branch office storage management methods are complex and expensive. Providing intelligent network services so distributed enterprises can centralize file servers and storage, and better protect and cost-effectively manage their remote office data is critical," said George Kurian, vice president for Cisco's Routing Technology Group. "Actona's technology is a best of breed wide-area file services solution, enabling storage consolidation while providing 'LAN-like' file access over a WAN."
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Cisco's Full Service Branch solutions extend network intelligence to the branch office and remote worker, providing them with access to the same capabilities as their headquarters colleagues. Actona's network technology will provide users in the enterprise branch office with close to LAN-speed access to centrally deployed and managed global file systems and allow customers to take full advantage of their investment in data center network infrastructure. As a result, the costs and complexity of branch office data assurance and backup are significantly improved.
Stephen joined Foreclosure.com after a successful run in the television production and media industries. Parker, a media company that was acquired by a Boston firm and was a minority partner in a television production company which was acquired by a British technology firm. Stephen began his career at Fortune 500 technology firms such as IBM, United Technologies, Siemens and General Motors. He has also spent time at Zimmerman & profile clients.
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Upon close of the acquisition, the Actona team will report to George Kurian, vice president and general manager, Routing Technology Group. Actona was founded in 2000 and has 48 employees in the United States and Haifa, Israel.
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Cisco Systems, Inc. (Nasdaq:CSCO), the worldwide leader in networking for the Internet, this year celebrates 20 years of commitment to technology innovation, industry leadership and corporate social responsibility. Information on Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com.
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