Xconomy Boston

Cisco Systems Acquires Starent Networks Corp. for $2,900,000,000

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c5deec68-30f9-4c94-b9dc-b2d7393d33ed&Preview=1
Date
10/13/2009
Company Name
Starent Networks Corp.
Mailing Address
30 International Place Tewksbury, MA 01876
Company Description
Starent Networks has been focused on delivering a superior subscriber experience with next-generation services.
Website
http://www.starentnetworks.com
Transaction Type
M&A
Transaction Amount
$2,900,000,000
Transaction Round
Proceeds Purposes
M&A Terms
Under the terms of the agreement, Cisco will pay $35 per share in cash in exchange for each share of Starent Networks and assume outstanding equity awards for an aggregate purchase price of approximately $2.9 billion. The acquisition has been approved by the boards of directors of both companies.