CSCO: Cisco Announces Agreement to Acquire Greenfield Networks

Cisco (NASDAQ: CSCO) - Cisco today announced a definitive agreement to acquire privately held Greenfield Networks Inc of Sunnyvale, California. Greenfield Networks provides integrated circuits, hardware and software optimized for Ethernet packet processing that enables next-generation Metro Ethernet services.

Greenfield has a proven track record in developing and deploying semiconductors for the Metro Ethernet market. This technology is highly complementary to Cisco's existing line of Metro Ethernet products.

"By integrating Greenfield Networks technology with Cisco's family of Metro Ethernet switches, we will be able to improve time to market of new carrier-class features to our service provider partners," said Kathy Hill, senior vice president, Ethernet and Wireless Technology Group (EWTG).

The acquisition is subject to various standard closing conditions, including applicable regulatory approvals, and is expected to close in the second quarter of Cisco's fiscal year 2007. The terms of the deal were not disclosed.

Greenfield Networks was founded in 2000 and has 60 employees based in Sunnyvale, California, and Bangalore, India.

Upon close of the transaction, the Greenfield Networks team and product portfolio will be integrated into Cisco's EWTG, led by Hill.