1 Comment

Summary:

Network World reports that Cisco has bought assets of Procket for $80 million. This news comes a day after I broke the story here on GigaOM. I had gotten in touch with Cisco PR people who politely declined to comment. Tech Dirt adds:“At the bottom of […]

Network World reports that Cisco has bought assets of Procket for $80 million. This news comes a day after I broke the story here on GigaOM. I had gotten in touch with Cisco PR people who politely declined to comment. Tech Dirt adds:“At the bottom of the down years in technology, there were still a few companies that managed to raise lots of money at insane valuations and have dot-com insanity-style stories. One of the biggest was Procket. When news first came out about the company they were still in “stealth” mode (oh so very dot com), but had a $1.55 billion valuation. As stealth as they claimed to be, everyone knew they were working on the next generation of “super router” to be the next Cisco or Juniper. From $1.55 billion to $80 million in about two years. That takes talent.

By Om Malik

You're subscribed! If you like, you can update your settings

Related stories

  1. Share

Comments have been disabled for this post