Cisco Systems said Friday that it has signed a deal to buy Jabber Inc., an instant messaging software company, in a move highlighting the tech giant's bid to expand its business communications portfolio.
Cisco said Jabber, which is based in Denver, would enable the networking gear maker to "embed presence and messaging services" in corporate networks.
Financial terms of the deal were not disclosed. Cisco said it expects to complete the acquisition by the first half of fiscal year 2009.
The move comes a day after the San Jose, Calif.-based networking gear maker announced that it had completed its acquisition of PostPath Inc., an e-mail and calendaring software company.
Shares of Cisco were up 5.7% at around $24.10 Friday morning.
Source:Dow Jones
