In late 1999, Cisco acquired Aironet Wireless Communications, Inc., a company that makes equipment for wireless LANs. The new wireless network technology enables small and medium-sized businesses to connect without wires. As demand for wireless internet connectivity increased, Cisco aimed to make these services available in the home. The acquisition brought $800 million in sales and $13.9 million in net income in the company’s fiscal year ended in July 1990. At the time, the company employed 254 people.
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In 1992, Cisco’s sales surpassed $800 million, but it was running out of cash. To meet demand, the company sought outside funding and incorporated in California. It made several acquisitions, including StrataCom, which cost the company $467 billion. In 1993, the company completed its first acquisition, hiring Stratacom’s CEO, John T. Chambers. In 1999, Cisco acquired Cerent Corporation, a start-up company in Petaluma, California, for $7 billion.
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In the following year, the company acquired Aironet Wireless Communications, a fiber-optic telecommunications equipment business.
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In 1993, Cisco announced a deal with IBM. In 1991, it sold its network interface card, a router that served several protocols, and a software-based security system. In 1991, the company secured an investment from Sequoia Capital. In 1988, Morgridge was installed as CEO, replacing Lerner and Bosack. Morgridge was not a fan of the Falun Gong movement and decided to step down from his position. Afterwards, Lerner and Bosack left Cisco and went on to form a new firm. Visit The Site: thingnews Visit Here: healthnewszone
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