Hit #154 (WebEx)
WebEx (WEBX) finally got acquired by Cisco for $3.2 billion in a cash deal. The offer of $57/share represents a gain of 164% over my average cost of $21.55.
This was one of my many tech buys in 2002-2003 after the tech bust. This offer from Cisco is frankly much higher than anything I had imagined for WebEx. Cisco is overpaying, but the deal could still be a transforming one for the buyer.
Cisco's own high-end video-conferencing solution released recently was very well received. WebEx will complement it on the lower-end.
Two other companies to watch in this sector are Polycom (PLCM) and Radvision (RVSN). I wouldn't recommend buying either one right now.
Previous hit - Dollar General(#153)
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