Wednesday, December 19, 2007

Navini Networks Buyout By Cisco Completes

The $330M acquisition of Richmond, Texas-based Navini Networks by Cisco completed Wednesday, according to Cisco. The deal, which was announced in October, makes Navini Networks a part of Cisco's Wireless Technology Group, under its Access Networking and Services Group. Navini, which makes WiMax broadband wireless equipment, was backed by Arcapita Ventures, Austin Ventures, Granite Ventures, Intel Capital, Lehman Brothers Venture Partners, Sequoia Capital, and Sternhill Partners.