Press release
Cisco and Acacia Communications Announce Amended Merger Agreement
SAN JOSE, Calif., Jan. 14, 2021 /PRNewswire/ -- News Summary: The acquisition of Acacia reinforces Cisco's commitment to optics as a building block that will
About this update from Cisco Systems, Inc.
[{"type":"text","content":"SAN JOSE, Calif., Jan. 14, 2021 /PRNewswire/ -- \n\n \n \n \n \n \n \n\n \nNews Summary:\nThe acquisition of Acacia reinforces Cisco's commitment to optics as a building block that will enhance Cisco's 'Internet for the Future' strategy with world class coherent optical solutions. Cisco is committed to supporting Acacia's existing customers around the world as well as new customers that require industry-leading coherent optics, digital signal processing / photonic integrated circuit modules and transceivers for use in networking products and data centers. Cisco has agreed to acquire Acacia for $115 per share in cash, or approximately $4.5 billion on a fully diluted basis, net of cash and marketable securities.Cisco (NASDAQ: CSCO) and Acacia Communications (NASDAQ: ACIA) today announced an amendment to the definitive merger agreement under which Cisco previously agreed to acquire Acacia. Under the terms of the amended agreement, Cisco would acquire Acacia for $115 per share in cash, or for approximately $4.5 billion on a fully diluted basis, net of cash and marketable securities. Cisco and Acacia expect to complete the acquisition by the end of the first calendar quarter of 2021, subject to closing conditions, including Acacia stockholder approval.\nUpon completion of the acquisition, CEO Raj Shanmugaraj and Acacia employees will join Cisco's Optics business.\n\"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.\" \nThe pending acquisition of Acacia reinforces Cisco's commitment to optics as a critical building block that will enhance the company's 'Internet for the Future' strategy with world class coherent optical solutions for customers, further enabling them to address the unprecedented scale of modern IT. Cisco is committed to supporting Acacia's existing and new customers around the world that require industry-leading coherent optics, digital signal processing / photonic integrated circuit modules and transceivers for use in networking products and data centers. \n\"Both Cisco and Acacia have been focused on helping customers create a simpler operations environment, with a shared ...