Cisco Agrees to New Deal to Buy Acacia for $115 a Share
January 14 2021 - 9:24AM
Dow Jones News
By Colin Kellaher
Cisco Systems Corp. on Thursday said it has struck a new deal to
buy Acacia Communications Inc., boosting the purchase price by
64%.
Networking-equipment giant Cisco said it would now pay $115 a
share for Acacia in a deal that values the Maynard, Mass.-based
maker of optical interconnect technologies at about $4.5 billion on
a fully diluted basis.
San Jose-based Cisco in 2019 agreed to pay $70 a share for
Acacia, which last week moved to terminate the deal, claiming that
Cisco hadn't received timely approval from Chinese regulatory
authorities.
Cisco said it expects to complete the acquisition of Acacia by
the end of the first calendar quarter.
Acacia shares jumped 31% to $113.25 in early trading
Thursday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 14, 2021 10:09 ET (15:09 GMT)
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