Cisco nets Growth in $335m deal

Cisco Systems is buying semiconductor manufacturer, Growth Networks, in a deal worth $335m.

Growth Networks specialises in Internet switching fabrics and Cisco said the deal, to be paid for with shares, provides it with semiconductor design expertise that will help boost the speed of its high-end routers and switches.

The networking giant added that the acquisition should help it fend off competition from Juniper Networks, Lucent Technologies and Nortel Networks, by keeping it in step with emerging technologies such as optical networking.