Cisco Systems (CSCO) announced Tuesday morning that it entered into definitive agreement to acquire Starent Networks Corp. (STAR) for $35 per share in cash, approximately $2.9 billion. The deal is expected to close in the first half of calendar year 2010.
Starent Networks has spiked sharply to the upside in the last 10 minutes of trade and is currently higher by 5.43 at $34.46 on above average volume. The stock has been rising for the last week and a half and has surged to a new high for the year.
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