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Cisco takes command
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March 22, 2000: 5:34 p.m. ET
Cisco executive says alliances and acquistions are its modus operandi
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NEW YORK (CNNfn) - The driving force behind Cisco Systems' most recent stock split is the strength of investor confidence in the company becoming a key player in the red-hot technology and telecommunications market, Mike Volpi, Cisco's senior vice president for business development and global alliances, told CNNfn's In The Money.
The stock split will be the ninth for the company since it went public in 1990.
"We serve a market that's probably $250 billion in size, if you take into account all the telecommunications and data communications systems being built," said Volpi. "Investors are looking at our historical execution and saying that they believe in our ability to capture that opportunity."
The San Jose, Calif.-based Cisco Systems controls three-fourths of the global market for products such as routers and switches that power the Internet and link networks.
The two-for-one stock split went into effect after today's closing bell. Cisco (CSCO: Research, Estimates) shares gained 3-17/32 to close at 144-3/8 on the Nasdaq.
Volpi said Cisco's future growth strategy would target key growth areas like optical networking, voice and telephony transmission, and broadband access.
"We'll cover these sectors by developing internal products and also through acquisitions," said Volpi. "We've done 52 acquisitions as a company, and it's a traditional way of moving our business ahead." 
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Cisco
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