On Wednesday Cisco Systems Inc. reported that it has gained eight percent in its profit but as the tech major reported that its sales outlook for the year is less than expectations, the shares of the company declined sharply.

The shares of Cisco saw a decline of more than fourteen percent as seen in the later hours of trading.

Entering full-fledged into the fast growing business sector is, US based electrical manufacturer and designer, Cisco Systems who has agreed on a pact with DVN Holdings, a Hong Kong based maker of hardware and software products that is an essential part of the set-top business.

It has been revealed by Cisco Systems, which is a networking and communication solutions provider, that the company has the acquired the Norway based video communication technology vendor Tandberg. The transaction is now complete.

Cisco Systems, the world`s major manufacturer of networking equipment has decided to acquire  Tandberg ASA for USD 2.97 billion, with the aim to spread out its lineup of video-conferencing products.

The sources informed that the company will pay 153.50 kroner a share in cash.

Tandberg is the World's largest maker of videoconferencing equipment.

Cisco Systems Inc has expanded its partnership with Warner Music Group Corp in a move that would boost company’s online presence.
 
Warner Music Group has been making use of Cisco's Eos entertainment software plus network know-how to offer a platform for musicians since January 2009. Warner Music Group has plans to add to its revenue streams via expanded deal.

At its press event on Tuesday, Cisco Systems Inc discussed its plans of enhancing the functionality of its online conferencing service, WebEx. Cisco's proposed Web-based service would be a competitive alternative for the popular Microsoft Office software, and would, as such, mount pressure on its rival as well as partner, Microsoft.

The San Jose, California based Cisco Systems announced on Thursday that it has acquired the manufacturer of the popular Flip Video camcorder, Pure Digital Technologies, in a $590 million deal.

It was Cisco Systems' virtual foray into the turf of Hewlett-Packard, IBM and Dell, when it officially announced its first server computer at its San Jose, California based headquarter, on Monday. Cisco Systems announced "Unified Computing System" strategy and put an end to all speculations and dead reckonings that were going on over its first blade server.

It's apparent that Cisco Systems is out to compete with its former partner Hewlett-Packard. Cisco Systems, the networking hardware manufacturer, has indicated that it will start selling computers, too, and it will soon unveil its first blade server.