Cisco (CSCO) Completes Acquisition of Acacia Communications (ACIA)

March 1, 2021 9:22 AM EST

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

News Summary:

  • Cisco completed the acquisition of Acacia Communications, Inc. following approval of the transaction by a majority of Acacia shareholders.
  • The Acacia acquisition 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 and growing 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 (NASDAQ: CSCO) today announced the completion of the acquisition of Acacia Communications, Inc. (NASDAQ: ACIA) following approval by a majority of Acacia's shareholders. Acacia designs and manufactures high-speed, optical interconnect technologies that allow webscale companies, service providers and data center operators to meet the fast-growing consumer demand for data.

This acquisition reinforces Cisco's commitment to optics as a critical building block that will enhance Cisco'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 customers around the world as well as new customers that want industry-leading coherent optics, digital signal processing/photonic integrated circuit modules and transceivers for use in networking products and data centers.

"We are thrilled to welcome the Acacia team to Cisco," said Chuck Robbins, Cisco chairman and CEO. "Our Internet for the Future strategy puts Acacia's high-speed coherent optics technologies front and center as we work to empower webscale companies, service providers and data center operators to meet today's fast-growing demands for data."

Cisco has agreed to acquire Acacia for $115.00 per share in cash, or approximately $4.5 billion on a fully diluted basis, net of cash and marketable securities. As a result of the transaction, Acacia is no longer a publicly traded company. Acacia has notified NASDAQ of the completion of the acquisition and has requested that NASDAQ file a notification of delisting with the Securities and Exchange Commission on Acacia's behalf.

Acacia employees join Cisco's Optics business as part of the Mass-Scale Infrastructure Group.

Additional Resources

  • Read the blog for more information


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Mergers and Acquisitions

Related Entities

Twitter, Definitive Agreement