Fenwick & West LLP represented Cisco Systems, Inc. in its recently announced acquisition of privately-held Sheer Networks of San Jose, California. Sheer Networks provides intelligent network management products for large enterprises. Cisco will pay approximately $97 million in cash and assumed options for all outstanding equity of Sheer, and potentially an additional $25 million depending on whether certain post-closing technology development milestones are achieved. The transaction is subject to regulatory approvals and closing conditions, and is expected to close in the first quarter of Cisco's fiscal year 2006.
The Fenwick & West transaction team consisted of corporate attorneys: Jeffrey Vetter, Douglas Cogen, Joshua Sun, Blake Martell, Christian Lymn, William Herochik; IP attorneys Lisa Kenkel, Larry Granatelli, Stephen Gillespie, Karen Kitterman, Daniel Brownstone, Christopher Joslyn, Tracy Randall; employee benefits partner Scott Spector; tax attorneys Ron Schrotenboer, Timothy Fitzgibbon; and litigation attorney Juan-Carlos Orellana.