Starent Networks Corporation has agreed to be acquired by Cisco Systems Inc. for $2.9 billion.
Cisco has agreed to pay $35 per share in cash in exchange for each share of Starent Networks (Nasdaq: STAR). The deal has been approved by the boards of directors of both companies and is expected to close during the first half of 2010. Once the sale is complete, Starent will become the new Mobile Internet Technology Group under Cisco.
WilmerHale represented Starent Networks in this matter. The WilmerHale team was led by Partners Mark Borden, Jay Bothwick, Jeffery Hermanson and Lia Der Marderosian and included James Burling, Michael Bevilacqua, Michael Diener, Jeffrey Johnson, Scott Kilgore, Roger Ritt, Kevin Smith, Jay Urwitz, Wendy Terry, Kimberly Wade, Benjamin Brown, Joseph Conahan, Kari Jorgenson, Kavitha Kadambi, Kirath Raj and Elizabeth Tammaro.