Cisco buys WebEx for $3.2 billion

Mar 16 2007, 2:30am CDT | by Luigi Lugmayr

Cisco and WebEx announced a definitive agreement for Cisco to acquire WebEx for approximately $3.2 billion.

WebEx is the choice for remote presentations. I used it tons of times in my product manager times. If WebEx is worth $3.2 billion, I do not know, but hey, we are back in bubble time dimensions. If Youtube is worth $1.65 billion, WebEx is sure worth more.
Afterall WebEx has close to 2,200 employees. For FY2006, which ended December 31, 2006, WebEx reported revenues of $380 million.
WebEx was founded in 1995 and held its Initial Public Offering (IPO) in July 2000.
More details about the WebEx Cisco deal can be found in this Cisco press-release.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.