Cisco completes $2.9bn acquisition of Starent Networks

Rebecca Thomson

Cisco has completed the acquisition of mobile infrastucture supplier Starent Networks, in a move that will help Cisco expand into the fast-growing mobile market.

The company paid around $2.9bn, or $35 per share, in exchange for Starent Networks.

Cisco said it expects global mobile data traffic to more than double every year until 2013 as more and more people buy smartphones that connect to the internet.

Starent Networks makes solutions that allow mobile service providers to scale their mobile infrastructure and monetize investments.

The company is now part of Cisco’s new mobile internet technology group, within the service provider group.

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