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Cisco to Acquire Allegro

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7/27/2001

SAN JOSE, Calif. -- Cisco Systems, Inc., today announced a definitive agreement to acquire privately-held Allegro Systems, Inc. of Milpitas, California. Allegro Systems is developer of Virtual Private Network (VPN) acceleration technologies designed to enhance the performance and functionality of secure networking platforms. The acquisition of Allegro Systems enhances Cisco's existing VPN and security solutions with added performance capabilities to meet the growing security requirements of organizations connecting remote offices, employees and customers to corporate networks and the Internet. Under the terms of the agreement, Cisco common stock worth a gross aggregate value of up to $181 million will be exchanged for all outstanding shares and options of Allegro Systems. Cisco currently holds a minority investment in Allegro Systems. This acquisition will be accounted for as a purchase and is expected to close in the first quarter of Cisco's fiscal year 2002. In connection with the acquisition, Cisco expects a one-time charge for purchased in-process research and development expenses not to exceed $0.01 per share. The acquisition has been approved by the board of directors of each company and is subject to various closing conditions including approval under the Hart Scott Rodino Antitrust Improvements Act. Cisco Systems Inc.

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12/4/2012 | 8:01:34 PM
re: Cisco to Acquire Allegro
SAN JOSE, Calif., July 27 /PRNewswire/ -- Allegro Networks, Inc, not to be confused with Allegro Systems, Allegro MicroSystems, Allegro Music, Allegro Resorts, Allegro Medical, Allegro Consultants or Allegra, the allergy medicine, today announced that it was not being acquired by Cisco Systems.

``We haven't announced anything, and I'm not even sure Cisco likes us,'' joked Dave House, president and chief executive officer of Allegro Networks, Inc. ``We received so many congratulations calls that we felt it necessary to issue a formal statement to the market saying that we're in the process of building a hugely valuable company, not selling one.'' House, former head of Bay and Nortel Networks, and longtime Intel executive, joined the company in January of this year.

Founded in January, 2000, Allegro Networks is a privately-held data communications equipment startup that manufactures and markets broadband internetworking systems to carriers and service providers. Headquartered in San Jose, California, the company is credited with developing the industry's only multi-router system that enables routing to be delivered as a service.

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