Systems giant

Cisco Systems

(CSCO) - Get Report

said Thursday it has shelled out some $500 million of its highflying stock to acquire two privately held high-tech companies.

San Jose, Calif.-based Cisco will acquire

InfoGear Technology

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of Redwood City, Calif., for $301 million in stock. InfoGear provides software used to manage information appliances. Cisco already owns 8% of InfoGear.

Cisco is also buying Menlo Park, Calif.-based

JetCell

, which develops wireless telephony solutions for corporate networks. That deal is meant to broaden Cisco's "New World" strategy by offering wireless voice services over a Web-based network. Cisco is paying $200 million in stock for JetCell, of which it already owns 10%. The company said it expects a one-time charge against after-tax earnings of 3 cents per share for in-process research and development.

Both deals are expected to close in the fourth quarter.

Cisco shares rose 7/16 to 129 1/16 in early trading.