Cisco Buys Cariden, Siemens Explains its Invensys Purchase: Merger and Acquisitions Wrap
In a Thursday press release, Cisco Systems (NASDAQ:CSCO) said that it will purchase the privately-held Cariden Technologies, a supplier of network planning, design and traffic management solutions for telecommunications service providers. The buyer is based in Sunnyvale, California.
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The news that Unites States regulators have okayed the takeover of Teavana Holdings (NYSE:TEA) by Starbucks Corporation (NASDAQ:SBUX) caused shares of the former to spike in mid-day trading, moving up by as much as 2.6 percent before falling back. The transaction, at $15.50 per share, was announced on November 14th.
When it announced on Wednesday that it was acquiring the rail division of Invensys (IVNSF.PK), Siemens (NYSE:SI), Germany’s most valuable firm, promised investors that the purchase would help boost profits in a tough economy. The buyer paid £1.74 billion for the unit, through which it looks to save €6 billion, or $7.75 billion, and concentrate on its core areas of expertise to catch up with rivals such as ABB and General Electric. As part of the strategy, Siemens will sell its baggage handling and postal sorting operations.
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