Cisco Systems Inc. today continued its acquisition quest, purchasing Stockholm-based Qeyton Systems in a stock deal worth approximately $800 million.
Qeyton is a private developer of metropolitan dense wave division multiplexing technology that bolsters the performance of service providers' fiber-optic telecommunications networks. Cisco said in a statement that Qeyton's optical products will expand its optical networking capabilities and services.
The deal is expected to close in the fourth quarter of Cisco's fiscal year 2000, pending regulatory and other closing approvals, Cisco said.
The network giant said last year it planned to acquire 24 companies by the end of 2000. Qeyton will be Cisco's 11th acquisition so far this year.