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Tuesday, June 17, 2014

Cisco to purchase networking software maker Tail-f Systems, (NASDAQ: CSCO)

Cisco Systems Inc said it would purchase privately held Swedish networking software maker Tail-f Systems for about $175 million to expand its network management and automation business. Tail-f employees will join the network equipment maker's cloud and virtualization group.

Cisco Systems, Inc. (Cisco) 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 fell by 0.69% or $-0.17/share to $24.53. In the past year, the shares have traded as low as $20.22 and as high as $26.49. On average, 37858900 shares of CSCO exchange hands on a given day and today's volume is recorded at 19253184.