Procket Cisco Saga Update

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.


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