Thursday, August 10, 2006

Cisco buys majority stake in Nuova for $50M: Financial News - Yahoo! Finance

"Cisco Systems Inc. said Thursday it has committed $50 million in funding to Nuova Systems Inc. San Jose-based Cisco (NASDAQ:CSCO - News) said Santa Clara-based Nuova will become a majority-owned subsidiary of Cisco. Along with the funding, Cisco has committed 'certain technology' and the possibility of up to $42 million in additional funding in the future.
Nuova has 76 employees, and the companies did not release details of staffing or any job losses. One of the company's co-founders was former Cisco executive Mario Mazzola."

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