There is an update on the Procket saga. Looks like Procket Networks might have walked away from its handshake deal with Cisco and instead gone into the embrace of Foundry Networks. Clearly, Cisco would be pissed off because of such a development. Apparently the $80 million price tag was not enough for Procket to pull the trigger on this one. Foundry has become quite serious about the whole router space, and recently announced an access router of their own. Cisco spokesperson, obviously declined to comment. Foundry spokesperson declined to comment on rumors. Even I don’t think it is Foundry, and Cisco could be more like it.

Light Reading has an update and they bring up some interesting points.

That source says the Procket talks with Cisco have gone far. Procket’s top software developers — A.E. Natarajan and Dino Farinacci — recently visited Cisco’s campus along with VP of engineering Jeffrey Purnell to talk technical specifics with the routing giant.

I will be updating this story, as I get more details on this one. Today the story was picked up by C/Net News.com which obviously did not think it was necessary to give credit to my original report. Neither did our rumor-break given a credit by Network World. Scott over at Light Reading is a mensch and we salute him for giving a link-back.