The company chairman recently declared the importance of partnerships, but Cisco Systems (CSCO) continued its acquisitive ways Friday, announcing an agreement to buy London-based videoconferencing firm Acano for $700 million in cash and stock. “This acquisition will accelerate Cisco’s collaboration strategy to deliver video everywhere, providing the best collaboration experience across every endpoint, every screen, every workspace and to every
Cisco Systems (CSCO) stock gapped down Friday to a six-week low after the company gave lower-than-expected guidance late Thursday, with investors not appeased as yet with CEO Chuck Robbins’ message that better days are ahead. The company’s earnings and sales for its fiscal Q1, ended Oct. 24, beat Wall Street expectations, but its Q2 guidance missed. “We’re doing all the right things to drive our growth,” CEO Chuck Robbins said on the company’s
Fresh off the thrill of announcing a megapartnership with Ericsson (ERIC) designed to grow sales instantly while the pair jointly develop cloud and 5G “networks of the future,” as they called it, networking gear leader Cisco Systems (CSCO) kicked off its fiscal 2016 with disappointing guidance. The networking gear leader, however, late Thursday posted earnings per share and sales that beat expectations for its fiscal Q1 ended Oct. 24. The San