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.