Company Cisco declared end of process of acquisition Nuova Systems
Company Cisco declared end of process of acquisition Nuova Systems, the young company from San Jose (State of California), specialising on products of new generation for data-processing centres, writes iXBT.
In August, 2006, we will remind, Cisco has enclosed in development Nuova 70 million dollars. Since then time and till present moment Nuova represented affiliated company Cisco which basic assets (80 %) belonged to the parental company. On conditions of the signed agreement on investments, Cisco has acquired the right to cquisition of remaining 20 % of shares Nuova.
As it is informed, bargain cost on company acquisition Nuova will depend on concrete results of work of this company, in particular, from success of its products during three periods. The first period will begin at the very beginning of 2010, the second — in the end of 2010, and the third — in the middle of 2011. The minimum sum of payments makes 10 million dollars, maximum — 678 million dollars.
Nuova will be considered as independent division Cisco. Its chiefs: Onions Kafiero (Luca Cafiero), to Prem Jane (Prem Jain) and Mario Matstsola (Mario Mazzola), — will be subject directly to John Chembersu, the chairman of board of directors and main chief executive Cisco. Besides, Prem Jane it is nominated by the councillor on workings out Cisco.
