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Cisco Agrees to Buy Web Conferencing Company WebEx for $3.2 Billion in Cash
Posted on Friday, March 16 @ Eastern Daylight Time by ljdeangelis

SAN FRANCISCO (AP) -- Cisco Systems Inc. said Thursday that it has agreed to acquire the online meeting company WebEx Communications Inc. for about $3.2 billion in cash.

Cisco, the leading maker of routers and switches that direct data over computer networks, said it will pay $57 per share of WebEx. That represents a 23 percent premium over WebEx's closing price of $46.20 Wednesday on the Nasdaq Stock Market.

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