Fergie's Tech Blog

Cisco pays over $1M per employee in takeover

Via Reuters.

Cisco Systems Inc. on Tuesday said it was paying about $13 million in cash to acquire an Internet security company that employs a mere 11 engineers and was founded just eight months ago.

Cisco, the world's largest maker of Internet equipment, said it had completed the acquisition of privately held M.I. Secure Corp., which focused on the development of security technology, including so-called virtual private networks.

M.I. Secure is a research organization with no staff other than its 11-member engineering team, a Cisco spokeswoman said. M.I. Secure has no products or revenue, she said.

Both companies are based in San Jose, California.

posted by Fergie @ 6/15/2005 08:36:00 AM