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Cisco spending spree calms down

Cisco's acquistion fever is cooling down considerably as the US market curbs its spending and the networking giant's share price continues to erode.

Cisco is cooling off its hot acquistion pace for the near future, a company spokesman said.

The traditionally highly acquisitive networking vendor hasn't made any purchases yet so far this year as the market downturn in the US has curbed spending and eroded Cisco's share price. In 2000, Cisco spent US$12.7 billion on 23 purchases of technology companies.

"We will be seeing less acquistions as we hold off head count and as we deal with volatility in the market," a spokesman said.

Cisco will remain focused on its core amrkets, such as optical content networking and voice over Internet protocol, where it believes it will see significant growth over the next three to five years.

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