News
Cisco swallows Linksys
by Guy Kewney | posted on 20 March 2003
Linksys has spent the last year strenuously building itself up into the appearance of a global purveyor of wireless Ethernet - WiFi - and now, we see why, as Cisco bids $500m to buy the company.
The announcement was made briefly this morning, and executives promised more data this afternoon (7 AM California time) in interviews. The deal is virtually done and dusted, however; Linksys is currently a privately-held company, and the major shareholders have given their approval.
It will be interesting to see whether Cisco understands the realities of consumer product sales, where price is paramount, and performance and security are optional.
The takeover goes "official" in the last quarter, if plans aren't interrupted.
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