Consistent with recent acquisition activity, Cisco has taken a further step towards its vision of converged video, voice and data networks in the future by announcing a definitive agreement to acquire privately held Israeli company HyNEX.
According to a Cisco press statement, HyNEX is a subsidiary of Elbit which develops "intelligent access devices for ATM network providers". The company was founded in 1993 and has 49 staff.
The statement said Cisco will part with an aggregate value of approximately $US127 million in its common stock and cash for the assets, liabilities and stock options of HyNEX.
"HyNEX's products strengthen Cisco's solution for service providers in international markets by accelerating the deployment of IP+ATM networks," the statement said.