Reuters: Technology News: Cisco acquires minority stake in Russia's Parallels

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Cisco acquires minority stake in Russia's Parallels Jan 17th 2013, 15:00 Tweet Share this Email Print Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » A Cisco office is pictured in San Diego, California November 12, 2012. Credit: Reuters/Mike Blake MOSCOW | Thu Jan 17, 2013 10:00am EST MOSCOW (Reuters) - Networking equipment company Cisco Systems Inc has acquired a small minority stake in Russian software developer Parallels, Parallels said on Thursday. Parallels said in a statement that Cisco has bought 1 percent of the company and added that the stake sale does not rule out a possible initial public offering of the Russian firm. "We are looking at all possible ways to ensure sufficient liquidity: dividend payouts, IPO, mergers and acquisitions," Parallel's press service said, citing the company's founder and chairman of the board of directors Sergei Belousov. The price of the deal with Cisco has not been revealed, but Cisco will get a seat on Parallels board of directors, the press release said. At the end of last year the company, which does not disclose financial results, announced that it aims to expand its cloud business and solutions based on the Unified Data Center platform by 20-26 percent annually in the next three years. (Reporting by Anastasia Teterevleva; Writing by Lidia Kelly; Editing by Douglas Busvine) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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