Subject: [NEXTEL-1] Major Consolidation In Wireless LAN

From: Marcel <[email-masked]>
Date: Tue, 25 Mar 2003 02:54:19 -0500

Wireless In Brief

Major Consolidation In Wireless LAN

Either the wireless local-area network equipment market is
maturing to the point of consolidation, or market leader Cisco
Systems [Nasdaq: CSCO] just sees some value in acquiring its
closest competitor. Cisco, the Internet routing technology giant
which also has moved to the top of the wireless LAN, announcing
an agreement to acquire Linksys Group in a $500 million stock
transaction.

According to data published by PBI Media's Wireless Data News, in
the 2002 fourth quarter Linksys had $64.44 million in revenues,
trailing on Cisco's $68.39 million in the wireless LAN market. Linksys
provides wired and wireless networking products for consumers and
small office/home office users. Under the terms of the agreement
for the deal expected to close in Cisco's FY 2003 fourth quarter,
Cisco will issue common stock worth $500 million to acquire Linksys
and assume all outstanding employee stock options. The
acquisition has been approved by each company's board and is
subject to closing conditions including expiration or termination of
the applicable waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act.

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