Cisco, a leading networking applications company based here, plans to purchase WebEx, a corporation specializing in business-to-business meeting applications, for $3.2 billion in cash.
Cisco plans to retain WebEx’s subscription-based business model and will have its CEO, Subrah S. Iyar, report directly to Charles H. Giancarlo, Cisco’s chief development officer.
The deal is expected to close in the fourth quarter of Cisco’s fiscal year.
