Cisco buys NeoPath Networks |
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Tue, 13 Mar 2007 16:04
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SAN JOSE, Calif. (AP) - Networking equipment maker Cisco Systems Inc. said Tuesday it plans to buy privately held NeoPath Networks for an undisclosed amount.NeoPath, based in Santa Clara, Calif., develops technology used to improve the performance of network storage systems. The company has 55 employees. After the transaction closes -- expected in the third quarter -- NeoPath will be folded into Cisco's Datacenter Switching and Security Technology Group.Cisco, along with venture capital firms August Capital, DCM-Doll Capital Management, Gabriel Venture Partners and Dot Edu Ventures, are among NeoPath's investors.Cisco Systems is also one of NeoPath's strategic partners, along with Network Appliance Inc.Cisco shares fell 12 cents to $26.05 in morning trading on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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