Cisco Acquires Israeli Cellular Network Software Developer

by Christopher Freeburn | January 23, 2013 12:51 pm

Cisco Acquires Israeli Cellular Network Software Developer

cisco sign flickr 630 300x191 Cisco Acquires Israeli Cellular Network Software Developer[1]Cisco (NASDAQ:CSCO[2]) announced on Wednesday that it has agreed to purchase[3] Intucell, a software developer based in Israel.

The networking equipment giant will pay $475 million for the maker of software used to manage cellular networks. The acquisition is expected to be completed later this year, the Wall Street Journal notes.

Intucell’s clients include U.S. wireless communications provider AT&T (NYSE:T[4]). The company recently received a $6 million investment from venture capital firm Bessemer Venture Partners in January 2011. Bessermer’s interest in the company is currently valued at $230 million.

Cisco has acquired nine software or service companies in recent years as it looks to double its software revenue over the coming five years. In November, Cisco paid $1.2 billion to acquire WiFi gear-maker Meraki[5].

Shares of Cisco slipped fractionally in Wednesday afternoon trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/06/cisco_sign_flickr_630.jpg
  2. CSCO: http://studio-5.financialcontent.com/investplace/quote?Symbol=CSCO
  3. that it has agreed to purchase: http://online.wsj.com/article/SB10001424127887323539804578259521434779186.html?mod=googlenews_wsj
  4. T: http://studio-5.financialcontent.com/investplace/quote?Symbol=T
  5. acquire WiFi gear-maker Meraki: http://investorplace.com/ipo-playbook/cisco-deal-causes-a-ruckus-for-rkus/

Source URL: http://investorplace.com/2013/01/cisco-acquires-israeli-cellular-network-software-developer/
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