Cisco completes NetSpeed acquisition

Cisco completes NetSpeed acquisition

Cisco Systems has completed its acquisition of privately held Digital Subscriber Line company NetSpeed, the company announced today.

Cisco announced it would purchase the company last month.

Under the final terms of the agreement, Cisco exchanged 3.8 million shares of its common stock for all of the assets, shares and options of NetSpeed, Cisco said in a statement. At Cisco's stock price of $US67 as of yesterday's close, the deal is worth about $US255 million. Cisco expects to take a charge of between 15 cents and 18 cents a share in its third fiscal quarter of 1998, the company said.

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