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Cisco acquires TransMedia for $407M

Published on .

San Jose, Calif.--Networking company Cisco Systems, San Jose, Calif., announced Thursday it will acquire TransMedia Communications, San Jose, Calif., a provider of voice and data networking technology, in a stock deal worth $407 million based on Cisco's closing share price Wednesday of $116.25. Between 3.15 million and 3.85 million shares of Cisco stock will be exchanged for all outstanding shares and options of TransMedia. The deal is expected to close in the first quarter of Cisco's fiscal 2000; it has been approved by the boards of directors at both companies, though it is subject to closing conditions. In other Cisco news, the company was to close a partnership deal Wednesday worth as much as $1 billion with Qwest Communications International, Denver, in which Cisco will supply equipment to Qwest while the companies jointly develop Internet services, The New York Times reported Thursday.
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