Cisco Signs Acquisition Deal with Starent
Cisco and Starent Networks today announced a definitive agreement for Cisco to acquire Starent Networks. Starent is a supplier of IP-based mobile infrastructure solutions targeting mobile and converged carriers.
The acquisition has been approved by the boards of directors of both companies and is expected to close during the first half of calendar year 2010. However, the deal is subject to customary closing conditions and regulatory reviews. Cisco expects the acquisition to be dilutive to non-GAAP earnings in fiscal years 2010 and 2011 and accretive to non-GAAP earnings in fiscal year 2012.
Starent provides multimedia intelligence, core network functions and services to manage access from any 2.5G, 3G, and 4G radio network to a mobile operator’s packet core network. Its access-independent technology is deployed in CDMA2000 (1X, EV-DO), UMTS/HSPA and WiMax networks.
Upon completion of the transaction, Starent will become the new Mobile Internet Technology Group led by Starent Networks’ president and CEO Ashraf Dahod, within Cisco’s service provider business, which is led by Pankaj Patel, senior vice president/GM.
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