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Cisco Completes Acquisition of Scientific-Atlanta

Posted by iNext - 2006-02-28

Cisco Systems on Monday said it has completed the acquisition of cable television set-top box maker Scientific-Atlanta.

The communications equipment maker in November said it would buy Scientific-Atlanta, in a deal valued at $5.1 billion after subtracting the Lawrenceville, Ga.-based company's cash balance.

The total purchase price is about $7 billion, or $43 a share, for each share of Scientific-Atlanta and outstanding options, Cisco said in a statement issued today.

Owning Scientific-Atlanta propels Cisco further into the home market as cable, satellite and telecommunications companies vie to be a one-stop shop for telephone, video and Internet services.

The acquisition is the second-largest in Cisco's history.

Earlier this month, Cisco sold $6.5 billion of debt to fund the purchase. It is the second-largest debt sale this year by a technology company, following a $5.75 billion sale by software company Oracle.



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