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Jan 6, 2010

Cisco bringing high-end videoconferencing to homes

NEW YORK/LAS VEGAS (Reuters) – Network equipment maker Cisco Systems Inc plans to begin selling later this year a long-awaited, affordable home version of its TelePresence videoconferencing system for corporations.

Cisco said it would team up with phone and Internet service provider Verizon Communications Inc to install the system in U.S. homes. Field trials begin this spring, it said.

Dec 18, 2009

Avaya sees Nortel deal helping private equity exit

NEW YORK (Reuters) – The head of network equipment maker Avaya Inc <AVXX.UL> said its purchase of some Nortel Networks Corp <NRTLQ.PK> assets will boost market share and help a potential initial public offering or some other type of exit by its private equity owners.

Avaya, bought by Silver Lake and TPG Capital in 2007, on Friday closed its acquisition of Nortel’s corporate networks unit. It paid $900 million for the business and $15 million for employee retention.

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.