Cisco closes $2.9 billion deal for Starent

AP News
Posted: Dec 18, 2009 9:52 AM

Cisco Systems Inc. said Friday it has completed its $2.9 billion acquisition of Starent Networks Corp.

Cisco, the world's largest maker of computer networking gear, paid $35 per share in cash, for Starent, a company based in Tewksbury, Mass. that makes equipment used by telecommunications carriers to tie their wireless networks to the Internet.

Shares of Cisco, which is based in San Jose, Calif. were up 5 cents to $23.23 in premarket trading.