Cisco Systems will Buy WebEx Communications for $3.2 Billion in Cash

Cisco Systems will Buy WebEx Communications for $3.2 Billion in Cash

Webex Website

Cisco Systems announced today that they will purchase WebEx Communications for $3.2 billion in cash. That breaks down to $57 per share, according to a report by Forbes.

WebEx Communications is an online conferencing company that is geared toward small businesses. Users can sign up for a 14 day trial of their video conferencing and the company reports that they have 3.5 million individuals that are using their software each month. Their pay-as-you-go cost to host a video conference is currently at 33 cents per minute.

WebEx Communications was founded in 1996. With a phone and access to their website users are set up for online meetings, holding large scalable on-line events, shareholder presentations, and webinars. There is also an ability to offer interactive training classes through their website. It can also be used for technical support issues as well as having online sales presentations.

Cisco is on a trend of acquiring companies in the area of network components and social networking applications to expand their market.

WebEx stock ended $10.18 per share more at $56.38 and Cisco ended today down by 4 cents per share at $25.81.

By Best Syndication Staff

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