Cisco Buys Acacia for $2.6 Billion to Add Optical Technology (2)

July 9, 2019, 9:19 PM

Cisco Systems Inc. agreed to buy Acacia Communications Inc. for about $2.6 billion, the technology giant’s latest acquisition as it seeks technologies to meet customer demand for more robust networks.

The San Jose-based company will pay $70 a share, a 46% premium to Acacia’s closing price on Monday, the companies said in a statement Tuesday. The purchase price is about $2.6 billion on a fully diluted basis net of cash and marketable securities, and the deal is expected to close in the second half of Cisco’s fiscal 2020 year.

Cisco Systems is buying Acacia Communications for $2.6 billion or $70 per share. Bloomberg’s Emma Chandra reports.
Source: Bloomberg)

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