SAN JOSE (AP) — Cisco plans to buy privately held Ubiquisys for about $310 million in cash in order to strengthen its mobility strategy more and enable more intelligent mobile internet networks for service providers.
Cisco Systems Inc., which is based in San Jose, Calif., supplies routers, switches, software and services to corporate customers and government agencies worldwide. It is considered a bellwether of the technology industry.
Ubiquisys is based in Swindon, U.K. Its 3G and long-term evolution small-cell technologies help deliver a signal over a shorter range, which gives mobile users a faster, more consistent voice and data experience.
The deal, which is targeted to close in Cisco's fourth quarter, also includes retention-based incentives. When the transaction closes, Ubiquisys workers will join the Cisco service provider mobility group.
Cisco's stock added 4 cents to $21.26 in premarket trading on Wednesday.