Cisco to Buy LightSpeed International

Cisco Systems Inc. agreed to buy closely held LightSpeed International Inc. for about $160 million in stock, acquiring technology that helps link phone systems over computer networks. Cisco said it will take a charge of 11 cents to 15 cents a share for the purchase in the fiscal second quarter ending in January. Like other networking companies, San Jose-based Cisco has been on a buying spree to offer a broader array of products to help phone companies, Internet service providers and other businesses link their computers. Sterling, Va.-based LightSpeed’s technology helps different phone systems communicate, allowing businesses and telecommunications carriers to cut costs by routing phone calls over the Internet. Cisco shares rose $1.19 to close at $54.63 on Nasdaq.