Cisco Systems agreed to acquire Airespace, a provider of wireless LAN systems, for approximately $450 million in stock and assumed options. Airespace's product portfolio includes WLAN controllers, Access Points, WLAN Management and Location Software, and Security capabilities, including IDS.
Cisco said Airespace's product portfolio will expand Cisco's WLAN solution portfolio would accelerated the delivery of key WLAN features and capabilities for its entire customer base.
In the near term, Cisco will continue to offer and support both the existing Cisco Structured Wireless-Aware Network framework (SWAN) and Airespace product lines.
Upon close of the transaction, Airespace will join Cisco's Data Center, Switching and Wireless Technology Group, led by Senior Vice President Luca Cafiero.
About Cisco Systemshttp://www.cisco.com
- Airespace was founded in July 2001 and has approximately 175 employees. The company is located in San Jose, California.
- Airespace is headed by Brett D. Galloway, who previously was a co-founder and interim chief executive officer at Packeteer. Before that, he served as Director of Engineering for Metricom, which developed the Ricochet wireless service.
- In September 2004, Airespace announced a partnership with IBM targeting corporate Wi-Fi services. Airespace had previously
announced global OEM agreements with Alcatel, NEC, and Nortel. In addition, Airespace has also established partnerships with D-Link . - In July 2004, Airespace secured $20 million in mezzanine funding, bringing the total investment in the company to $58 million. Airespace's primary investors include Battery Ventures, Fidelity Ventures, Norwest Venture Partners, Storm Ventures, Hotung Capital, and KTB Ventures.
