"Cisco Systems has agreed to buy Greenfield Networks in a move designed to expand its Ethernet lineup, the companies said Monday. Greenfield, a privately held Sunnyvale, Calif.-based company with 60 employees, develops semiconductors designed to improve Ethernet packet processing for the so-called metro Ethernet market. Telecommunications carriers use the technology to string together a number of corporate networks within a metropolitan-area network, allowing these companies to use VoIP and data over their networks. "
Notes: Another Sequoia-backed company sold to Cisco. It is unlikely Sequoia made very much return back other than their initial investment and some. $40M+ raised since May 2001. Other investors include Global Catalyst, Panorama Capital (led their third round), and Walden Int'l. Greenfield has a proven track record in developing and deploying semiconductors for the Metro Ethernet market. The only listed customers are Huawei-3com. Greenfield's technology is highly complementary to Cisco’s existing line of Metro Ethernet products. Greenfield CEO Bill Rossi, former vice president and general manager of the Wireless Networking Business Unit at Cisco Systems, who joined Greenfield Networks in Nov 05 will now return back to the CSCO.
Other:
Cisco to buy Greenfield Networks ZDNet
Cisco to buy Greenfield Networks San Jose Business Journal
Cisco Announces Agreement to Acquire Greenfield Networks Business Wire (press release)
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