Cisco Systems, Inc. - CSCO STOCK NEWS

Cisco has been recognized as the 2020 Asia-Pacific Email Security Vendor of the Year by Frost & Sullivan, holding a 16.8% market share in the region. Its success is attributed to its comprehensive email security solutions, particularly the Cisco Email Security product, which effectively blocks and detects threats. Cisco's Talos threat intelligence enhances its offerings by providing critical insights into cyber threats, and its data loss prevention features ensure compliance with regulations. The award highlights Cisco's customer focus and continuous evolution in the email security market.

Cisco has successfully completed the acquisition of IMImobile PLC for approximately $730 million, paying 595 pence per share. This acquisition enhances Cisco's Webex Contact Center, allowing for a comprehensive Customer Experience as a Service (CXaaS) offering. IMImobile's cloud communications solutions will enable businesses to provide seamless interactions with customers across multiple digital channels, meeting rising customer expectations for better experiences.

Cisco reported Q2 FY 2021 results with revenue remaining flat at $12.0 billion, year-over-year. GAAP earnings per share (EPS) decreased by 12% to $0.60, while non-GAAP EPS rose 3% to $0.79. The company saw a 1% increase in total product orders and a 3% dividend increase. Q3 guidance anticipates 3.5% to 5.5% revenue growth y/y and GAAP EPS of $0.64 to $0.69. Despite challenges, Cisco's transformation towards software and subscription services continues, with 76% of software revenue now derived from subscriptions.

Cisco has launched Secure Application, an innovative solution designed to simplify vulnerability management and enhance application security. Co-developed with the Cisco Security team, this tool integrates security and application insights, promising reduced alert fatigue and automatic breach prevention. With applications migrating to cloud-native environments, organizations can now manage vulnerabilities more effectively during production. This offering supports enterprise IT teams in securing applications without compromising performance, ultimately safeguarding customer trust and brand reputation.

Cisco announced its participation in the Goldman Sachs Technology and Internet Conference 2021, scheduled for February 10, 2021, at 5:00 a.m. PT / 8:00 a.m. ET. The session will be webcast live, and interested parties can access it via Cisco's Investor Relations website. CEO Chuck Robbins will represent the company during the event, which aims to engage with the financial community and discuss key business developments.

Cisco has announced a conference call scheduled for February 9, 2021, at 1:30 PM PT to discuss its second quarter fiscal year 2021 financial results. The results for the period ending January 23, 2021 will be released via PR Newswire after market close on the same day. The earnings press release will be available on Cisco's website. Investors can listen to the call through telephone or internet, with a replay available from February 9 to February 16.

Cisco's 2021 Data Privacy Benchmark Study reveals significant privacy concerns arising from the pandemic, reflecting a global shift towards remote work. Key findings include that 60% of organizations felt unprepared for privacy requirements, while 93% sought guidance from their privacy teams. Many businesses now view privacy as a fundamental human right, with over 140 jurisdictions passing privacy laws. Additionally, 75% of organizations recognize substantial business value in privacy investments, contributing to enhanced security and consumer trust.

Cisco has announced an amended merger agreement to acquire Acacia Communications for $115 per share, totaling approximately $4.5 billion in cash. This acquisition aims to strengthen Cisco's 'Internet for the Future' strategy by enhancing its coherent optical solutions. The deal is expected to close by the end of Q1 2021, pending stockholder approval. Cisco is committed to supporting Acacia's existing and new customers, integrating its teams to offer advanced optical technology solutions.

Cisco (NASDAQ: CSCO) is seeking confirmation from the Delaware Court of Chancery regarding the closing conditions for its acquisition of Acacia Communications (NASDAQ: ACIA). This includes confirmation that all necessary conditions, including approval from China's State Administration for Market Regulation (SAMR), have been met. As of January 7, 2021, Cisco received notification from SAMR that its submission addresses relevant competition concerns. Cisco also seeks a court order to require Acacia to proceed with the transaction.