Cisco Systems, Inc. - CSCO STOCK NEWS

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.

Cisco has appointed John D. Harris II to its board of directors as of January 7, 2021. Harris brings over 30 years of experience in technology and has previously held significant roles at Raytheon, where he led global business operations. Cisco's CEO, Chuck Robbins, noted that Harris's leadership will enhance Cisco's strategy and strengthen customer relationships as they advance digital agility. Harris's extensive background in managing large-scale global businesses is expected to positively impact Cisco's future direction.

Cisco (NASDAQ: CSCO) has declared a quarterly cash dividend of $0.36 per common share, payable on January 20, 2021, to shareholders of record as of January 5, 2021. This announcement mirrors the previous quarterly dividend amount, which was also $0.36 and paid on October 21, 2020. Future dividends are subject to Board approval, maintaining a consistent return for its investors.

On December 8, 2020, Cisco unveiled significant updates to Webex, enhancing collaboration with over 50 new features. Key innovations include real-time transcription, enhanced video layouts, and AI-powered insights tailored for teams and individuals. The announcement coincides with Cisco's intent to acquire IMImobile and Slido, aiming to embed omnichannel engagement into customer experiences. Cisco emphasizes a vision for a hybrid work environment, asserting that the new features will help organizations achieve a seamless blend of remote and onsite interactions.

Cisco announced at WebexOne on December 8, 2020, the launch of three new collaboration devices: Webex Desk Camera, Webex Desk Hub, and Webex Desk. These devices aim to support hybrid work environments by enhancing productivity for remote and office workers. The Webex Desk Camera features AI capabilities and a gesture-based microphone control, while the Webex Desk Hub facilitates personalized hotdesking. The Webex Desk provides immersive presentation features and is designed for easy setup and use.

Cisco has launched the Webex App Hub, a collaboration app ecosystem offering prebuilt integrations that enhance user experience and IT workflow. Key integrations announced include Box, Dropbox, Miro, MURAL, Salesforce, ServiceNow, and Workplace from Facebook. The App Hub allows users to transition seamlessly between applications while enabling IT managers to streamline app usage across the company. These integrations aim to facilitate secure and effective remote collaboration, positioning Webex as a versatile, user-friendly platform for businesses.

Cisco has announced its agreement to acquire IMImobile PLC for approximately USD 730 million or 595 pence per share. This acquisition aims to integrate IMImobile's cloud communications software into Cisco's offerings, enhancing its Customer Experience as a Service (CXaaS) capabilities. The partnership will enable end-to-end customer interaction management, using AI to personalize and streamline customer interactions across various channels. This acquisition is subject to shareholder and regulatory approvals and is expected to close in Q1 2021.

Cisco's 2021 Security Outcomes Study reveals key insights for enhancing cybersecurity. Conducted among 4,800 professionals worldwide, findings emphasize the significance of proactively refreshing technology, with organizations adopting this strategy reporting 12.7% better security success. Additionally, well-integrated tech stacks boost success by 10.5% and improve talent retention. The study suggests moving towards cloud and SaaS solutions for cost-effective, modern security, indicating that traditional training methods are less effective than comprehensive threat management.

Cisco recently announced its participation in key conferences in December 2020, including the Raymond James Technology Investors Conference on December 7 and the Barclays Global Technology, Media and Telecommunications Conference on December 9. These events aim to engage with the financial community and will be webcasted for interested investors. Cisco, a leader in Internet technology, focuses on securing data and transforming infrastructure to foster a global future. The sessions will be accessible via the company’s Investor Relations website.