SAN JOSE, Calif.-Cisco Systems Inc. announced it purchased privately-held Wi-Fi company Airespace Inc., based in San Jose, Calif., for $450 million in stock. Cisco said the deal would add wireless local area network controllers, access points, management and location software and security technology to its WLAN portfolio.
Cisco’s stock was down slightly after the news to about $18.86 per share.
“As part of our global systems approach to networking, we continually look for complementary technology that offers new value to our customers. Airespace is a strong technological and cultural fit with an outstanding team,” said Luca Cafiero, senior vice president of Cisco’s data center, switching and wireless technology group. “Cisco and Airespace are both committed to helping our customers take advantage of the productivity benefits of seamless mobility and computing by accelerating the adoption of intelligent, adaptive WLAN infrastructure.”
On the close of the transaction, Airespace will join Cafiero’s data center, switching and wireless technology group. Airespace was founded in July 2001 and counts around 175 employees.
