Cisco Buys Navini Networks For $330M

Cisco Systems said this morning it has agreed to acquire Richmond, Texas-based Navini Networks. Cisco said it will pay approximately $330M in cash and assumed options for Navini. Navini develops multiple input, multiple output (MIMO) WiMax products, and is venture backed by Arcapita Ventures, Austin Ventures, Granite Ventures, Intel Capital, Lehman Brothers Venture Partners, Sequoia Capital, and Sternhill Partners. Navini will become part of Cisco's Wireless Networking Business Unit, under the Ethernet and Wireless Technology Group.