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Cisco Systems is now just "Cisco" (in a similar way to Apple Computers becoming Apple, but done many months earlier). It is branching out into ever more diverse network related areas, and the management team has a good understanding that if they just remain with "selling pipes" then they're going to lose. Don't be suprized to see more user focused technologies coming out in the future...
I think the Cisco execs you chatted with threw you a red herring. I think they bought 5across to integrate into the VoIP. Imagine incorporating a softphone into 5across' toolbar and then you have a great way for enterprises to collaborate on a level not seen through today's telephony solutions.
Re VoIP, don't think there was a red herring. I think VoIP is definitely party of their strategy, and they're not denying it. But it's more than that. Video is clearly important too, as is messaging...
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Sites on WEB 2.0 - future of internet :)
http://supportwiki.cisco.com