Cisco (NASDAQ: CSCO) is to acquire Meraki Inc., a San Francisco, Calif.-based cloud networking company.
Under the terms of the deal, which is expected to close in the second quarter of fiscal year 2013, subject to customary closing conditions, including regulatory review, Cisco will pay approximately $1.2 billion in cash and retention-based incentives to acquire the entire business and operations of Meraki.
With offices in New York, London and Mexico, Meraki provides midmarket customers with on-premise networking solutions (Wi-Fi, switching, security and mobile device management) that can be centrally managed from the cloud. The company’s solutions support BYOD, guest networking, application control, WAN optimization, application firewall and other advanced networking services.
The acquisition aims to expand Cisco’s network offerings and strengthen its Unified Access platform.
FinSMEs
19/11/2012