Thursday, May 17, 2007

Cisco Poised to Complete Acquisition WebEx

Cisco Systems received the remaining foreign regulatory approvals required under the merger agreement for it to acquire WebEx Communications. The deal is expected to close on Monday, May 21, 2007.

As announced previously, on March 27, 2007, Cisco, through its wholly owned subsidiary Wonder Acquisition Corp., commenced a tender offer for all outstanding shares of WebEx at a price of $57.00 per share net to the seller in cash without interest, less brokerage fees and less any required withholding taxes, pursuant to the definitive merger agreement between Cisco and WebEx.

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