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Cisco Systems, Inc. (CSCO)

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45.43+0.28 (+0.62%)
At close: 4:00PM EST
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Previous close45.15
Bid45.11 x 1200
Ask45.34 x 3000
Day's range44.88 - 45.65
52-week range32.40 - 50.28
Avg. volume22,437,476
Market cap191.965B
Beta (5Y monthly)0.94
PE ratio (TTM)18.39
Earnings dateN/A
Forward dividend & yield1.44 (3.19%)
Ex-dividend date04 Jan 2021
1y target estN/A
Press releases
  • Acacia Communications Files Counterclaim Against Cisco

    Acacia Communications Files Counterclaim Against Cisco

    MAYNARD, Mass., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Acacia Communications, Inc. (Nasdaq: ACIA) (“Acacia” or “the Company”) today announced that it filed its answer and affirmative defenses in response to the complaint filed by Cisco Systems, Inc. (Nasdaq: CSCO) (“Cisco”) in the Delaware Court of Chancery and simultaneously filed a counterclaim against Cisco seeking a declaration that Acacia validly terminated the merger agreement with Cisco because the required Chinese regulatory approval was not obtained and the merger did not close before the agreed-upon termination date under the agreement.  As previously announced, on January 8, 2021, Acacia delivered to Cisco a notice to terminate the merger agreement for the proposed acquisition of Acacia by Cisco. The transaction was conditioned on the satisfaction or mutual waiver of agreed-upon closing conditions, including obtaining necessary regulatory approvals. The merger agreement afforded the parties 18 months to obtain the necessary antitrust approvals from the Chinese government before, as Acacia asserts, either Acacia or Cisco could terminate the agreement on January 8, 2021. Such approval was not received before January 8, 2021, and Acacia delivered a notice of termination of the merger agreement on that date. Cisco has initiated litigation against Acacia in Delaware challenging the Company’s termination of the merger agreement, claiming that the Chinese Government’s State Administration for Market Regulation (“SAMR”) approval was received on January 7, 2021.Acacia believes that a January 7, 2021 email from a SAMR employee stating Cisco’s submission was “sufficient to address the relevant competition concerns” does not constitute regulatory approval, as Cisco claims. Acacia intends to vigorously defend itself against Cisco’s claims and vindicate its decision to terminate the merger agreement.Acacia continues to be bound by the terms of the merger agreement pursuant to a temporary restraining order granted by the Delaware Court of Chancery pending resolution of the litigation with Cisco or as otherwise agreed by the parties. Further information regarding these matters can be found in the Company’s regulatory filings with the Securities and Exchange Commission. About Acacia CommunicationsAcacia Communications develops, manufactures and sells high-speed coherent optical interconnect products that are designed to transform communications networks through improvements in performance, capacity and cost. By implementing optical interconnect technology in a silicon-based platform, a process Acacia Communications refers to as the “siliconization of optical interconnect,” Acacia Communications is able to offer products at higher speeds and density with lower power consumption, that meet the needs of cloud and service providers and can be easily integrated in a cost-effective manner with existing network equipment. Harbor for Forward-Looking StatementsThis press release includes statements concerning the Company and its future expectations, plans and prospects that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding: the proposed merger; termination of the merger agreement and challenges to such termination, including the litigation instituted by Cisco against the Company and the Company’s counterclaims against Cisco. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words “may,” “should,” “would,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “will” or “continue” or the negative of these terms or other similar expressions are intended to help you identify forward-looking statements. The forward-looking statements in this press release are only predictions. The events and circumstances reflected in the forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward looking statements. The Company has based these forward-looking statements largely on its current expectations and projections about future events and trends that the Company believes may affect its business, financial condition and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions including, without limitation: the potential impacts on the Company’s business, reputation, relationships, results of operations, cash flows and financial condition as a result of the merger, termination of the merger, uncertainty with respect to the merger or litigation relating to the merger; pending or potential litigation against the Company or its directors or officers related to the merger, the merger agreement or termination thereof, including the litigation instituted by Cisco against the Company and counterclaims instituted by the Company against Cisco, and any adverse outcome of such litigation; the effects of announcements relating to the merger and the merger agreement, including with respect to the termination thereof and challenges to the termination thereof; the costs, fees, expenses and other charges related to the merger, including with respect to related litigation; risks that the merger and litigation relating to the merger may divert management’s attention from the Company’s ongoing business operations, disrupt the Company’s operations and result in potential difficulties in the Company’s ability to attract and retain employees; and other risks set forth under the caption “Risk Factors” in the Company’s public reports filed with the SEC, including the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2020 and in other filings that the Company may make with the SEC from time to time. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on these forward-looking statements as indicative of future events. The Company assumes no obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.For further information:Investor Relations Contact: Monica Gould Office: (212) 871-3927 Email: IR@acacia-inc.comLindsay Savarese Office: (212) 331-8417 Email: IR@acacia-inc.comPublic Relations Contact: Kelly Karr Office: (408) 718-9350 Email: PR@acacia-inc.comGeorge Sard/Jared Levy/Kelsey Markovich Office: (212) 687-8080 Email:

  • Cisco Provides Update on Acacia Acquisition
    PR Newswire

    Cisco Provides Update on Acacia Acquisition

    Cisco (NASDAQ: CSCO) today announced that it is seeking confirmation from the Delaware Court of Chancery that it has met all conditions for closing of its acquisition of Acacia Communications (NASDAQ: ACIA), including approval of China's State Administration for Market Regulation (SAMR). Cisco is also seeking a court mandate that the agreement may not be terminated until the court resolves these matters, and an order from the court requiring Acacia to close the transaction. On January 7, 2021, Cisco was notified by SAMR that the agency has determined that Cisco's submission is "sufficient to address the relevant competition concerns."

  • TIM Launching Open Caching Solution to Further Improve Video Streaming Experience Across Its Network in Brazil

    TIM Launching Open Caching Solution to Further Improve Video Streaming Experience Across Its Network in Brazil

    News Summary * TIM is the first service provider in Brazil to adopt new open caching solution available from Cisco, Qwilt and Digital Alpha to deliver high-quality streaming experiences across its network on behalf of global content providers * First-of-its-kind solution combines Qwilt’s CDN platform based on Open Caching, with Cisco’s edge compute and networking infrastructure and Digital Alpha providing a unique funding model * The new CDN solution will help TIM support increasing data volumes and reduce costs RIO DE JANEIRO, Brazil, Dec. 18, 2020 (GLOBE NEWSWIRE) -- Cisco, Qwilt and Digital Alpha (DA) today announced that they are working with TIM Brazil to bring their new Content Delivery Network (CDN) solution to the Brazilian market with a new technology based on Open Caching. TIM is the first service provider to launch this new business model and Open Caching service in Brazil.The new CDN solution will be implemented by NEC Brazil. Based on Open Caching, it will help prepare TIM’s network to support increasing data volumes and to improve the streaming experience across its entire network. Open Caching will also drive new revenue, helping TIM to become an active part of the content delivery value chain to end users. The solution will help service providers to reduce content delivery costs by introducing CDN capabilities inside their networks and eliminate deployment costs through the innovative model.Open Caching, an open architecture developed and endorsed by the Streaming Video Alliance, offers a platform that federates content delivery infrastructure deployed deep inside service provider networks, providing open APIs for content publishers as well as protection and security mechanisms.It is designed to help service providers quickly deploy an edge CDN footprint, and addresses the needs of global and regional content providers for more capacity, consistency in content delivery and performance assurance.Digital Alpha, a premier alternative asset manager with an exclusive collaboration agreement with Cisco, is the investing partner and is providing a first-of-its-kind risk and CAPEX-free funding solution to TIM and other major telecom service providers around the world. This partnership combines Qwilt’s innovative content delivery platform based on Open Caching with Cisco’s edge compute and networking infrastructure to deliver the solution as-a-service to service providers of all sizes around the world. BT recently announced it has implemented the solution in the UK.“Our presence in an open network solution is aligned with our strategy to defend open infrastructure initiatives and establishes an environment for ongoing development. When we combine an innovative solution with a differentiated service to customers, we are expanding the consumer experience in a unique movement in Brazil. We want to maintain quality services as one of TIM's pillars in the country,” said Leonardo Capdeville, CTIO, TIM Brazil.“Starting this month, the first platforms will be activated by the country, in a project that extends to 13 points in TIM Brazil network, bringing quality content closer to the consumer. We are proud to have partners who think just like us, and who value the quality of the service delivered to millions of TIM customers across the country,” said Alberto Griselli, CRO, TIM Brazil.Supporting resources: * Qwilt Edge Cloud for Content Delivery * Open Caching Architecture from the Streaming Video Alliance * Cisco UCS * Cisco Nexus 9000 Series SwitchesAbout TIM Brazil“To evolve together with courage, transforming technology into freedom” is TIM’s purpose, which operates throughout Brazil with telecommunications services, focused on the pillars of innovation, customer experience and agility. The company is recognized for leading important market movements since the beginning of its operations in the country and is at the forefront of society's digital transformation, in line with its brand's signature: "Imagine the possibilities". Since 2015, it has been a leader in 4G coverage in Brazil, connecting, including the countryside, to enable innovation in agribusiness. It was a pioneer in the activation of 5G networks in the country, with the creation of Living Labs in 2019, and is ready for the next generation of mobile networks.TIM values diversity and promotes an ever more inclusive culture, with a work environment based on respect. The company is the only one in the telecommunications sector to integrate B3's Novo Mercado, recognized as the highest level of corporate governance, in addition to being in the Corporate Sustainability Index (ISE) for 12 consecutive years, being an operator for more consecutive periods in this portfolio. It is also the first telephone company recognized by the Comptroller General of the Union (CGU) with the "Pro-ethics" seal, an initiative that exists with the aim of promoting a more honest, ethical and transparent corporate environment. For more information, visit: Cisco Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Network and follow us on Twitter at @Cisco.Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.About Qwilt Qwilt’s unique Edge Cloud Platform and Open Caching software solutions help Internet Service Providers address the dramatic growth of streaming media on their networks and the need for a low latency, high scale infrastructure to support future applications. Qwilt’s cloud managed open platform, running on commodity compute and storage infrastructure and deployed close to consumers, creates a massively distributed Edge Cloud that supports applications such as Open Caching, 4K Live Streaming, AR, VR, Self-Driving Cars and IoT. This low latency Edge Cloud architecture enables a high-quality streaming experience for consumers on a massive scale. A growing number of the world’s leading cable, telco and mobile service providers rely on Qwilt for Edge Cloud applications.Qwilt is a Founding Member of the Streaming Video Alliance and a leader of the Open Caching industry movement. Founded in 2010 by industry veterans from Cisco and Juniper, Qwilt is backed by Accel Partners, Bessemer Venture Partners, Cisco Ventures, Disrupt-ive, Innovation Endeavors, Marker and Redpoint Ventures. Learn more at Digital Alpha Digital Alpha Advisors, LLC. (DA) is an investment firm focused on digital infrastructure and services required by the digital economy, with a strategic collaboration agreement with Cisco Systems, Inc. As part of this agreement, Digital Alpha has preferred access to Cisco’s pipeline of commercial opportunities requiring equity financing. Digital Alpha believes that it is the first fund focused on making private equity investments in the significant growth opportunities required to underpin the Digital Economy, including smart cities, next generation broadband networks, and enterprise data management and communication solutions. Digital Alpha was founded by Rick Shrotri, Head of the Global Infrastructure Funds (GIF) team at Cisco, and closed its first Fund – Digital Alpha Fund, LP – in 2017.About Open Caching Architecture from the Streaming Video Alliance Cisco and Qwilt’s content delivery solution is based on Open Caching specifications developed and approved by 60+ members of the Streaming Video Alliance (SVA) over the last five years. The Open Caching Working Group’s primary goal was to bring the streaming ecosystem together to create a new model for content delivery within internet service provider (ISP) networks. This industry initiative was driven by beliefs that building and operating content delivery technology closer to consumers will improve streaming quality and increase network capacity.Press ContactsSara Cicero Cisco Public Relations stutzes@cisco.comQwilt Media Relations +1 650 249 6521