Cisco buys WebEx

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According to eWeek, Cisco Systems just announced that it is buying WebEx Communications for $2.9B. The total deal is worth $3.2B including WebEx’s existing cash reserves, and will be Cisco’s biggest acquisition since it bought Scientific-Atlanta last year for $7B.

The deal is a natural fit for Cisco as it expands it’s unified communications and telepresence offerings and is expected to close sometime in late July, at the end of Cisco’s fiscal fourth quarter.