SalesCrunch Offers $1 to Buy WebEx

WebEx to be acquired by SalesCrunch for $1

March 13, 2012

1 Min Read

NEW YORK -- SalesCrunch today announced that it is making an unsolicited bid of $1 plus 15% equity in SalesCrunch to the shareholders of Cisco Systems, Inc. to acquire WebEx, the networking conglomerate’s web conferencing service.

Since acquiring WebEx for $3.2 billion in 2007, Cisco has closed or sold various business units in an attempt to focus more on its core market. In March 2011, Morningstar analyst Grady Burkett reported, “What investors would like is to see them [Cisco] more focused on their core market, like routers, switches and data centers.”

In April 2011, Business Insider reported that Cisco CEO John Chambers “had to eat crow and issue a memo, admitting Cisco ‘lost focus’ thanks to its plan to move into 30 areas that had little-to-nothing to do with its core business, network gear.” On April 12, 2011, Cisco stunned everyone when it shut down Flip, for which it paid $600 million just two years earlier, laying off 550 workers in the process. A month later, Information Week reported that “WebEx is the most likely to be sold [next] as it is less integrated with Cisco, not part of the core router business, and more likely to attract a buyer.”

WebEx Communications

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like