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Cisco to buy WebEx for $3.2 billion

Deal to enhance Cisco's communications segment approved by both boards, but awaits regulatory approval.

Cisco Systems plans to acquire WebEx for about $3.2 billion in cash and stock, the companies announced Thursday.

WebEx, which offers network-based solutions for on-demand collaboration between businesses, will enhance Cisco's unified communications segment for small to medium-size business clients, according to the companies. The deal has been approved by the boards of directors of both companies but is still pending regulatory approval.