Cisco Still Looking for Acquisitions

Networking giant Cisco Systems has already completed two major acquisition deals in just the last week, but according to recent statements released by the company, Cisco will continue to search for more large acquisitions. Cisco Chief Strategy Officer Ned Hooper has stated that his company is prepared to use both cash and stock to continue down the path of acquisitions.

Hooper also said that the company’s acquisition of Starent Networks shows that Cisco is committed to remaining the leader in networking technology and that this committment comes into play regarding Cisco’s drive to pursue further acquisitions. Cisco acquired Starent for around $2.9 billion, paying $35 per share in cash for the company, which produces software and networking gear for wireless carriers.

Cisco’s cash holdings are among the largest in the entire technology sector, with the company holding on to an enormous $35 billion in cash and investments at the end of its last quarter and planning to spend much of it on acquisitions in the coming quarters. According to Hooper, Cisco is an excellent position due to its remarkable financial flexibility at a time when the economy still has plenty of room to recover.

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