Cisco to buy wireless LAN vendor in $799m deal

Cisco Systems on Tuesday said it would buy Aironet Wireless Communications of Akron, Ohio, in a stock purchase valued $799 million.

Aironet is a developer of high-speed wireless LAN products.

The purchase will let Cisco deliver capabilities that allow corporate users to establish wireless LAN connectivity anywhere in a building.

Aironet's products include wireless adapter cards that interface with and manage wired network traffic and a wireless bridge product that provides connectivity between wireless devices and LANs within a building.

The 131-employee Aironet, which was founded in 1993, will become part of Cisco's Desktop Switching Business unit.

Under the proposed deal, Cisco will convert each share of Aironet to 0.64 shares of Cisco common stock. Based on Cisco's closing stock price of $75 5/16 on November 8, the deal will have an approximate value of $799 million.

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