Cisco to buy up middleware vendor

Cisco yesterday said it will buy middleware vendor Amteva Technologies, of Glen Allen, Virginia for $US170 million in cash and stock.

Amteva develops software that lets enterprises and ISPs unify voice, e-mail and fax traffic in a single inbox over IP networks.

For service providers, Amteva's middleware will enable deployment of new revenue-generating communication services, such as voicemail over the Internet, unified messaging and personal agent services such as single-number reach, automatic forwarding and pager alerts.

Under the terms of the agreement, shares of Cisco common stock and cash with an aggregate value of around $170 million will be exchanged for all outstanding shares and options of Amteva.

Cisco expects a one-time charge against after-tax earnings of between $.02 and $.07 per share for purchased in-process research and development expenses in the fourth quarter of 1999.

Amteva was founded in 1995. The 144 employees led by Amteva president and CEO Dean Dodrill will report to Don Listwin, Cisco executive vice president.

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