Networking giant

Cisco Systems

(CSCO) - Get Report

said Wednesday that it will acquire privately held


, a developer of technology that helps data move faster and more efficiently over computer networks.

The all-stock deal values SightPath at roughly $800 million, and is expected to be completed by the fourth quarter. Cisco said the acquisition is subject to various unidentified conditions.

Waltham, Mass.-based SightPath develops hardware and software, known as content delivery networks, that monitor traffic and congestion on computer networks and quickly re-rout the flow of data along the path of least resistance. The company was founded in 1998 by developers from the

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Massachusetts Institute of Technology


SightPath chief executive Jim Ricotta and the company's 76 employees will join Cisco's content services unit, reporting to Cisco senior vice president James Richardson.

San Jose, Calif.-based Cisco said SightPath's products and technology will give its customers the ability to soup up both new and existing networks to more easily accommodate data-intensive applications such as real-time video.

Cisco is neck and neck with


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in being the company with the largest market capitalization in the world, at roughly $540 billion.

Cisco shares were down 3/4, or 1%, to 77 1/8 in early trading Wednesday. (Cisco shares closed down 1 13/16, or 2%, at 76 1/16).