BUZZ-Cisco in talks to acquire India's Wi-Fi firm Firefly Networks

Cisco Systems

07/07/2022 11:15

** Cisco Systems Inc  CSCO.O  is in late-stage talks to
acquire India's FireFly Networks Ltd for about 2 bln Indian
rupees ($25.3 million), The Economic Times reports (https://bit.ly/3ImOIkf)
    ** Cisco shares down 0.6% at $42.45 premarket
    ** FireFly, a Wi-Fi infrastructure co, is a joint venture
between Bharti Airtel Ltd  BRTI.NS  and Vodafone Idea Ltd
 IDEA.NS   
    ** Cisco is likely to retain the existing management of
FireFly, according to the report
    ** Shares of CSCO down ~34% YTD

 (Reporting by Yuvraj Malik)
 ((yuvraj.malik@thomsonreuters.com))