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Cisco to buy Active Voice
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November 10, 2000: 9:23 a.m. ET
Networking firm in $266M stock deal to buy Internet messaging company
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NEW YORK (CNNfn) - Cisco Systems Inc. announced Friday that it will acquire Active Voice Corp., a provider of Internet messaging systems, in a $266 million stock swap.
 Terms of the deal also call for Cisco, a computer networking company, to pay roughly $30 million in stock for Active Voice's circuit switched PBX voicemail solutions, which will be sold after the acquisition closes, to a newly formed entity comprised of former Active Voice employees for $30 million.
The purchase price will be shared by all Active Voice shareholders. There are approximately 14.8 million shares of Active Voice outstanding on a fully diluted basis.
In Thursday trading, shares of Active Voice (ACVC: Research, Estimates) closed up 6 cents at $14.94 and Cisco (CSCO: Research, Estimates) rose $1.12 to $53.25.
 In connection with the acquisition, Cisco expects to take a one-time charge for purchased in-process research and development expenses not to exceed 2 cents a share. The acquisition has been approved by the board of directors of both companies.
Cisco said that Active Voice's Unity products will complement Cisco's Internet Protocol-based voice solutions by providing advanced capabilities that can combine text, video and voice. 
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