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Cisco To Acquire Acacia In $2.6B Deal

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Cisco To Acquire Acacia In $2.6B Deal

Cisco Systems, Inc. (NASDAQ: CSCO) will acquire Acacia Communications (NASDAQ: ACIA) for $70 per share in cash, or for approximately $2.6 billion on a fully diluted basis, net of cash and marketable securities.

An existing Cisco supplier, Acacia designs and manufactures optical interconnect technologies that allow webscale companies, service providers, and data center operators to meet the fast-growing consumer demands for data.

“With the explosion of bandwidth in the multi-cloud era, optical interconnect technologies are becoming increasingly strategic,” said David Goeckeler, executive vice president and general manager of Cisco's networking and security business. “The acquisition of Acacia will allow us to build on the strength of our switching, routing and optical networking portfolio to address our customers' most demanding requirements."

Cisco shares trading down 1% at $55.63 in Tuesday’s pre-market session. The stock has a 52-week range between $58.15 and $40.25.

Acacia shares were trading higher by 38.70% at $66.66 in Tuesday’s pre-market session. The stock has a 52-week range between $62.18 and $31.42.

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