In a deal announced today, Cisco will purchase Webex. Webex is a firm the provides online meeting “rooms” for want of a better term. I was using it just today as a matter of fact. Now, if the damn things wouldn’t kick me out if there is the slightest network hiccup I would love the service.
The deal will see Cisco shell out $3.2 billion for Webex. This will involve the purchase of all outstanding shares of Webex at $57 per share. The shares of Webex were up $10 today on heavy trading volume closing at $56.38.
WebEx’s service portfolio includes technologies and services that allow companies to engage in real-time and asynchronous data conferences over the Internet as well as share web-based documents and workspaces that help improve productivity, performance and efficiency of workers in any size organization. WebEx’s subscription-based services strategy has been key to its success, and Cisco plans to preserve this business model going forward.
While it is nice to see that they will be maintaining the Webex business model I hope that they will be able to bring a greater stability going forward. The borgification of the IT industry marches on.
[tags]Cisco Buys Webex, Webex Sale, Cisco M&A[/tags]