23 Mar Seal the Deal, Cisco – $3.2 Billion for WebEx!
Cisco Systems Inc. recently acquired WebEx for $3.2 billion in cash. WebEx is a leader in online meeting applications, with a 64% market share. More than 3.5 million people use WebEx every month to communicate and collaborate online. WebEx, founded in 1995, had reported earnings of $48.6 million and revenue of $380 million in 2006.
Cisco is the networking leader and has acquired quite a few interesting companies lately. Recently Cisco bought IronPort, a network security provider. Then, for an undisclosed amount, Cisco got a hold of Five Across, a social networking company. Currently Cisco is building its own video conferencing software aimed at corporate customers.
This deal shows that web-conferencing has huge potential to grow in the U.S and beyond. Some other major web-conferencing providers: LiveMeeting, GotoMeeting, Yuuguu, WebDialogs, AdobeConnect, DimDim, Yugma, Vyew, and Qwaq.