Deal Flow 7-10-2009

Cisco today took over sponsorship of the 2012 London Olympics, from bankrupt technology company, Nortel. Cisco will fulfill all of Nortel's previous obligations in the new deal, said to be worth approximately $32 million in cash and services, but will provide approximately $20 million less in cash making Cisco a "tier two" provider. Nortel's original "tier one" deal was worth arround $65 million in cash and services