Cisco shells out $2bn for CTI house

Spreads telecom wings

Cisco is dishing out $2 billion of its highly rated stock for a small CTI software developer. Takeover target GEOTel has at least some real revenues to report. For 1998, the Massachussets company produced sales of $44.9 million in 1998 (1997: $18.6 million) and net income of $9 million, 45 per cent up on 1997. Interest income accounts for an unspecified chunk of the profits. GeoTel makes software that enables ISVs to deliver integrated voice and data to call centres. The technology is platform independent -- it works with any combination of voice and datacoms equipment. ®

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