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Cisco намерена приобрести Acquire Scientific-Atlanta. Сумма сделки составит $6,9 млрд

22 ноября 2005
SAN JOSE, Calif., Nov. 21, 2005/Satnews Daily/ ѕ Cisco Systems, Inc., (NASDAQ: CSCO) said on Friday it is buying Scientific-Atlanta Inc., a leading maker of cable-television set-top boxes, for $6.9 billion, a move that brings the Internet equipment giant into the home entertainment market. The world's largest maker of the products that direct Internet traffic, Cisco joins the battle among cable, satellite and telecommunications companies to be a one-stop shop for telephone, video and Internet services. Cisco said the combined entity creates a world class, end-to-end triple play solution for carrier networks and the digital home. Upon closure, Cisco said, the market opportunities represented by this acquisition will become part of Cisco's Advanced Technology portfolio. Under the terms of the agreement, Cisco will pay $43 per share in cash in exchange for each share of Scientific-Atlanta, and assume outstanding options, for an aggregate purchase price of approximately $6.9 billion, or approximately $5.3 billion net of Scientific-Atlanta's existing cash balance. The acquisition of Scientific-Atlanta is expected to close in the third quarter of Cisco's fiscal year 2006. Cisco said it anticipates this transaction will be neutral to its FY2006 earnings, slightly accretive to its non-GAAP (pro forma) FY2007 earnings, and will be financed with a combination of cash and debt. The acquisition has been approved by the board of directors of each company and is subject to various standard closing conditions, including approval under Hart Scott Rodino and similar laws outside the U.S. and by the shareholders of Scientific-Atlanta. “Video is emerging as the key strategic application in the service provider triple play bundle of consumer entertainment, communication and online services,” said John Chambers, president and CEO of Cisco Systems. “The combination of Cisco and Scientific-Atlanta brings unmatched experience and innovation in delivering large scale video systems and networks, and the addition of Scientific-Atlanta further extends Cisco's commitment to and leadership in the service provider market. Moreover, Cisco's international presence and IP leadership will also create strategic synergies that accelerate the combined growth opportunity.” Scientific-Atlanta has platforms and technologies that enable scaling to millions of subscribers quickly and easily. This, along with the Cisco IP Next Generation Network architecture, is expected to offer providers an open platform for service differentiation, allowing them to move beyond video/IPTV to develop and deliver a variety of integrated media services in the connected home. Following the close of the transaction, Scientific-Atlanta will become a division of the Routing and Service Provider Technology Group under the leadership of Cisco senior vice president Mike Volpi. Jim McDonald will report directly to Volpi. Prior to the close, Cisco and Scientific-Atlanta will operate as separate businesses and will continue to work with their existing partners. Following the close of the transaction, Cisco said it is committed to retaining the relationships and go-to-market strategies that both companies have developed. Scientific-Atlanta was founded in 1951 and held its Initial Public Offering (IPO) on July 29, 1959. The company has more than 7500 employees. For FY2005, which ended July 1, 2005, Scientific-Atlanta reported revenues of $1.91 billion.

Источник: Satnews Daily.


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