Cisco Systems completed its acquisition of WebEx Communications, a leading provider of on-demand collaboration applications and services.
Cisco said the deal extends its vision for Unified Communications, particularly within the small to medium business (SMB) segment.
Cisco also said that it plans to preserve WebEx’s subscription-based services strategy and business model going forward.
The deal was valued at $3.2 billion (in cash) when it was first announced in March 2007.
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- WebEx was founded in 1995 and held its Initial Public Offering (IPO) in July 2000. The company has close to 2200 employees. For FY2006, which ended December 31, 2006, WebEx reported revenues of $380 million.