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Cisco buying TransMedia
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June 17, 1999: 10:27 a.m. ET
Cisco Systems to swap $407M in stock for data and voice networker
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NEW YORK (CNNfn) - Networking firm Cisco Systems Inc. will buy TransMedia Communications Inc. in a stock deal worth approximately $407 million, the companies said Thursday.
TransMedia, a privately held firm based in San Jose, Calif., provides voice and data networking technology for packet-based networks, in which bundles of information are sent over communication lines.
According to the agreement, Cisco (CSCO)will swap between 3.15 million and 3.85 million shares of its stock for all the outstanding shares and options of TransMedia.
The companies expect the deal to be completed in the first quarter of Cisco's fiscal year 2000. The agreement is subject to regulatory approval, although it has received the approval of both companies' boards of directors. 
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