Cisco Systems Inc. announced Nov. 21 a definitive agreement to acquire Scientific-Atlanta, creating an end-to-end triple play solution for carrier networks and the digital home, the companies said.
Cisco will pay $43 per share in cash for each share of Scientific-Atlanta for an aggregate purchase price of about $6.9 billion. The deal has been approved by the boards of directors of each company and is subject to regulatory review as well as approval by Scientific-Atlanta shareholders.
“The combination of Cisco and Scientific-Atlanta brings unmatched experience and innovation in delivering large scale video systems and networks, and the addition of Scientific-Atlanta further extends Cisco’s commitment to and leadership in the service provider market,” Cisco President and CEO John Chambers said in a statement. “Moreover, Cisco’s international presence and IP (Internet protocol) leadership also will create strategic synergies that accelerate and combine growth opportunity.”
