The deal gives Cisco a way to help operators scale and manage their networks as IP-enabled smartphones, netbooks, Machine2Machine (M2M) products and other connected devices grow in popularity. In fact, according to Cisco’s own research, global mobile data traffic is projected to more than double every year through 2013.
Cisco paid $35 per share in cash for each share of Starent Networks; it also assumed outstanding equity. All shares of Starent Networks were expected to be delisted by the close of business on Friday.
Starent Networks is now Cisco’s new Mobile Internet Technology Group, which operates within the Service Provider Group. Ashraf Dahod, former president and CEO of Starent Networks, is serving as senior vice president and general manager of the Mobile Internet Technology unit. He reports to the head of the service provider division.