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Dec 18, 2009

Accenture gives weaker-than-expected sales outlook

NEW YORK (Reuters) – Technology outsourcing and consulting company Accenture Plc <ACN.N> reported a fall in first-quarter earnings and gave a sales outlook for the current quarter that was weaker than analysts’ expectations.

The company also saw no economic impact from rebranding after terminating its sponsorship arrangement with golfer Tiger Woods, who has admitted to infidelity in his marriage.

Dec 9, 2009

Cisco’s strategy chief emerges as CEO contender

SAN JOSE, Dec 9 (Reuters) – When Ned Hooper joined Cisco
Systems Inc <CSCO.O> after the company he worked for was bought
by the U.S. network equipment giant, he didn’t think he would
stay beyond an initial two-year commitment.

Not only did Hooper stay for 12 years, he also rose through
the ranks to become Cisco’s chief strategy officer and a top
contender to succeed Chief Executive John Chambers.

Dec 9, 2009

Cisco targets 12-17 pct growth on firmer economy, M&A

SAN JOSE (Reuters) – Cisco Systems Inc’s <CSCO.O> CEO John Chambers reaffirmed the network equipment maker’s long-term target of 12-17 percent annual revenue growth, citing an economic recovery and expansion into new markets.

Cisco has fallen short of such growth rates in the past year as customers cut back on technology spending, but Chambers, at a financial analyst conference, said conditions had improved in recent quarters.

Dec 8, 2009

Cisco targets 12-17 pct growth on firmer economy

SAN JOSE (Reuters) – Cisco Systems Inc <CSCO.O> Chief Executive John Chambers reiterated the company’s long-term target of 12 percent to 17 percent annual revenue growth, citing an economic recovery and expansion into new markets.

The top network equipment maker has fallen short of such growth rates in the past year as customers cut back on technology spending, but Chambers, at a financial analyst conference, said conditions had improved in recent quarters.

Dec 4, 2009

Cisco set to defend growth target, M&A strategy

NEW YORK (Reuters) – Cisco Systems Inc <CSCO.O> is expected next week to say it can return to double-digit sales growth due to a stronger economy and expansion in high-growth businesses, including the acquisition of videoconference leader Tandberg <TAA.OL>.

Analysts attending Cisco’s financial analyst meeting on Tuesday also look to the company to address concerns that its expansion into consumer products and increasing rivalry with Hewlett-Packard Co <HPQ.N> could dent profit margins.

Dec 4, 2009

Cisco learns lesson as it finally snares Tandberg

LONDON/NEW YORK (Reuters) – Cisco Systems Inc’s <CSCO.O> veteran dealmakers may have learnt some new lessons from their drawn-out pursuit of Norway’s Tandberg ASA <TAA.OL>, the video conferencing leader.

Cisco could be more careful about talking up the benefits of future deals, and thus making it hard to be firm on price.

Dec 4, 2009

Cisco to go ahead with plan to buy Tandberg

NEW YORK (Reuters) — Cisco Systems Inc <CSCO.O> said it plans to go ahead with its plan to buy Norway’s Tandberg ASA <TAA.OL>, paving the way toward creating the world’s leader in video conferencing equipment, although acceptances from shareholders were slightly below its target.

Cisco said about 89 percent of shareholders accepted the 19 billion Norwegian crown ($3.4 billion) deal. That was lower than the 90 percent Cisco had set as a minimum requirement, but the company said it would waive this condition.

Dec 2, 2009

Cisco has 84 pct of Tandberg, won’t extend bid

NEW YORK/OSLO, Dec 2 (Reuters) – Cisco Systems Inc <CSCO.O>
said its bid for Tandberg ASA <TAA.OL> has been accepted by 84
percent of shareholders in the Norwegian videoconferencing
company, and gave a one-day ultimatum to those who have not yet
tendered their shares.

Most analysts said the 19 billion Norwegian crown ($3.4
billion) deal is likely to go forward, creating an industry
leader in videoconferencing, although the acceptance level by
Tuesday was slightly lower than the 90 percent originally set
as a minimum requirement.

Nov 24, 2009

Brocade denies it looked for a buyer

NEW YORK (Reuters) – Brocade Communications Systems Inc’s <BRCD.O> top executive denied on Monday that the network equipment maker was looking for a buyer, disappointing investors who had pinned their hopes on a buyout.

The company’s shares fell 6.5 percent, as its plans to grow through partnerships failed to bolster Wall Street’s confidence in Brocade’s competitive position amid a series of mergers and acquisitions among its peers.

Nov 16, 2009

Cisco ups Tandberg bid, expected to win approval

OSLO/NEW YORK (Reuters) – Cisco Systems Inc <CSCO.O> raised its bid for Tandberg ASA <TAA.OL> 10 percent to 19 billion Norwegian crowns ($3.41 billion), a move widely expected to win over shareholders of the video conferencing company.

Cisco said on Monday its new bid of 170 crowns per share has the approval of holders of more than 40 percent of Tandberg shares, including the top two investors, OppenheimerFunds, which had opposed the original offer, and Folketrygdfondet.