Cisco to acquire Meraki for $1.2 billion

The deal is expected to be completed in the second quarter of FY13, subject to customary closing conditions
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First Published: Mon, Nov 19 2012. 01 59 PM IST
A file photo of Cisco Systems’ campus in San Jose, US. Photo: AFP
A file photo of Cisco Systems’ campus in San Jose, US. Photo: AFP
New York: American information technology firm Cisco Systems Inc. said it will acquire Meraki Inc., a leader in cloud networking, in a deal worth $1.2 billion.
Based in San Francisco, Meraki was founded by researchers at the Massachusetts Institute of Technology.
Cisco will pay about $1.2 billion in cash and retention-based incentives to acquire the entire business and operations of Meraki.
The deal is expected to be completed in the second quarter of Cisco’s FY13, subject to customary closing conditions including regulatory review.
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First Published: Mon, Nov 19 2012. 01 59 PM IST
More Topics: Cisco | Meraki | cloud computing | takeover |
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