Cisco buying Navini for WiMax goodies

Cisco today said it has a definitive agreement to purchase Navini Networks, described as "a leader in the Mobile WiMAX 802.16e-2005 broadband wireless industry".

Cisco's announcement noted Navini's "Smart Beamforming" MIMO antenna technology as one of the reasons for the acquisition. Navini also brings to the table a portfolio of broadband wireless WiMAX solutions including base stations, adaptive antenna arrays, management systems, and subscriber modems, as well as a base of 75 customers.

Under the terms of the agreement, Cisco will pay approximately $330 million in cash and assumed options. The Navini acquisition is expected to close in the second quarter of Cisco's 2008 fiscal year. Upon the close of the acquisition, Cisco plans to integrate Navini into its Wireless Networking Business Unit, under the Ethernet and Wireless Technology Group.