Cisco Systems Inc. said Friday that it has completed a $310 million acquisition of Ubiquisys, a privately held cellphone technology company in the U.K.
Cisco said that deal will combine the expertise of both companies to the benefit of service provider customers moving to next-generation radio access networks.
Under the terms of the agreement, Cisco is paying $310 million in cash and retention-based incentives to acquire the entire business and operations of Ubiquisys. Ubiquisys employees will become part of the Cisco Mobility Business Group.
Shares of networking equipment company Cisco fell a penny to $23.50 by midday, in line with broader market trends.