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Acquisition-hungry Cisco Systems Inc. of San Jose recently swallowed 56-employee NuSpeed Internet Systems of Maple Grove, Minn. for $450 million in stock. With in-house counsel Scott Lester and a legal team from Brobeck, Phleger & Harrison’s Palo Alto and San Francisco offices on its side, Cisco was able to wrap up the legal work needed for signing a deal in less than two weeks. “Everyone was really focused on hitting (July) 26th as the sign-on date; that’s what we were shooting for,” said corporate associate John Mills. “We were able to get through the obstacles of negotiating the economics of the deal and the employment agreements.” Mills added that he expects the deal to close by the end of August. Steve Tonsfeldt, John Duncan and Renee Deming, all partners at Venture Law Group, worked alongside associates Kerrie Dunstan and Kristen Kercher in Menlo Park in representing privately held NuSpeed. Founded in 1999, NuSpeed develops technology that connects storage area networks and Internet protocol networks. Cisco plans to use NuSpeed’s technology and resources to create a product capable of putting data and storage networks into a single infrastructure. Cisco expects a one-time write-off of up to 3 cents per share for purchased in-process research and development expenses. The acquisition of NuSpeed and IP Mobile Inc., announced Aug. 1, brings the number of companies Cisco has acquired this year to 16. The company plans to acquire at least 25 companies by the end of 2000. Therese Mrozek, partner in Brobeck’s business and technology group, led a team out of the Palo Alto office that included partner William Chuang, tax partner Patricia Copeland and business and technology associate Ingrid Tung. In San Francisco, tax partners Mark Boxer and Grady Bolding worked on the deal with senior counsel Karen Peteros and tax associate Heather Brookfield.

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