Cisco reaches deal to acquire Acacia for $4.5 billion

San Francisco, Jan 15 : Networking giant Cisco has agreed to acquire Acacia for $115 per share in cash, or approximately $4.5 billion.
Acacia is a component supplier and maker of high-speed optical interconnect technology for networking systems.
Cisco initially offered to acquire Acacia for $70 a share, or $2.6 billion in July 2019.
“I am delighted that Cisco and Acacia have decided to come together in this mutual deal,” said Chuck Robbins, chairman and CEO, Cisco.
“We look forward to welcoming Raj and the Acacia team to Cisco to offer our customers world-class coherent optical solutions to power the Internet for the future,” Robbins said in a statement on Thursday.
Upon completion of the acquisition, CEO Raj Shanmugaraj and Acacia employees will join Cisco’s optics business.