Cisco completed its previously announced acquisition of Starent Networks, a supplier of IP based mobile infrastructure solutions targeting mobile and converged carriers. Starent now becomes part of Cisco’s new Mobile Internet Technology Group within the Service Provider Group (SPG). In addition, Ashraf Dahod, former president and CEO of Starent Networks, becomes senior vice president and general manager of this new group, reporting to Pankaj Patel, senior vice president and general manager of SPG.
Cisco paid $35 per share in cash in exchange for each share of Starent Networks and assumed outstanding equity awards for an aggregate purchase price of approximately $2.9 billion.
Starent provides the multimedia intelligence, core network functions and services to manage access from any 2.5G, 3G, and 4G radio network to a mobile operator’s packet core network. Starent Networks’ access-independent technology is deployed in CDMA2000 (1X, EV-DO), UMTS/HSPA and WiMAX networkshttp://www.cisco.com
- Starent Networks was founded in 2000 and completed its initial public offering in 2007. The company is based in Tewksbury, Mass. and has approximately 1,000 employees worldwide. For the year ended Dec. 31, 2008, Starent Networks reported revenue of $254.1 million, up 74 percent from the prior year.
- Earlier this year, Verizon Wireless selected Starent Networks as a key supplier for the packet core. The company claims over 100 operator deployments in 40+ countries, including eight of the top 10 3G operators.