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Cisco Completes $4.5 Billion Acquisition of Acacia
Cisco has completed its acquisition of Acacia, closing a $4.5 billion deal that faced legal hurdles just months ago.
Acacia Communications makes optical interconnect technologies that helps companies deliver faster network performance, cloud services and distributed resources. Acacia’s technology compliments Cisco’s own tech, and will help the company continue to evolve.
In early January, Acacia tried to terminate its merger agreement with Cisco, citing a failure to meet various regulatory requirements. Cisco fought back, claiming all requirements had been met, and sued to keep the deal alive.
Despite the lover’s quarrel, it appears the two companies have made up…or at least come to terms. Oracle has announced it has closed the deal.
“We are thrilled to welcome the Acacia team to Cisco,” said Chuck Robbins, Cisco chairman and CEO. “Our Internet for the Future strategy puts Acacia’s high-speed coherent optics technologies front and center as we work to empower webscale companies, service providers and data center operators to meet today’s fast-growing demands for data.”
While the deal was originally valued at $2.6 billion, the final price comes to a total of “$115.00 per share in cash, or approximately $4.5 billion on a fully diluted basis, net of cash and marketable securities.”
Cisco Completes $4.5 Billion Acquisition of Acacia
Matt Milano
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