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Cisco completes $310 million purchase of Ubiquisys

The Associated Press

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.