Saturday, June 26

Cisco Acquire Procket

Cisco Systems, Inc the worlds largest network equipment manufacturer will buy the intellectual property i.e a majority of the engineering team and select assets from Procket Network for $89 million. Prokect was co-founded in March 1999 by Sharad Mehrotra, William Lynch and Tony Li, Procket markets concurrent services routers and has expertise in silicon and software development. Mehrotra, the chairman emeritus of Procket, is no longer active with the company. Procket's has a technology similar to Cisco's new high-end router, which was unveiled in May and took four years and $500 million to develop. It is intended for large telecommunications carriers.

* Cisco Systems to Purchase Intellectual Property, Engineering Teams and Select Assets from Procket Networks [ Cisco News Release ]