Cisco to buy WebEx for $3.20 billion

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San Jose, Calif.—Cisco Systems announced plans to acquire Web collaboration software company WebEx in a deal valued at roughly $3.20 billion.

WebEx, which was founded in 1995, develops technologies and services that enable companies to collaborate in real time over the Internet as well as share documents and applications online.

The deal is expected to close in the fourth quarter. It has been approved by the boards of each company and is subject to regulatory approval.

Following the acquisition, WebEx will become part of Cisco’s Development Organization.

—Kate Maddox

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