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Wednesday, January 23, 2013

Cisco to purchase Israel-based software maker for $475 mln, (NASDAQ: CSCO)

Cisco Systems Inc said it will purchase Israeli software maker Intucell for about $475 million in cash to expand its mobile network management offerings. Privately held Intucell makes software that helps mobile carriers manage cellular networks automatically.

Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. Shares of CSCO remained unchanged at $20.87. In the past year, the shares have traded as low as $14.96 and as high as $21.30. On average, 40332100 shares of CSCO exchange hands on a given day and today's volume is recorded at 4100.