Acacia Says It’s Ending $2.6 Billion Merger Deal With Cisco

Acacia Communications Inc. said it’s ending a merger deal with Cisco Systems Inc. after failing to get regulatory approval from China in time.

Cisco said in July 2019 that it planned to buy Acacia, an optical component maker, for about $2.6 billion to capture a bigger chunk of spending on 5G telecommunications networks.

Maynard, Massachusetts-based Acacia said in a statement Friday that it didn’t receive approvals from the Chinese government’s State Administration for Market Regulation within the time frame of the merger agreement, so it didn’t have an obligation to close the merger before Jan. 8, 2021.

However, Cisco said ...