STRATEGIC BUY: A pedestrian walks past the Cisco logo at the technology company's campus in San Jose, California. The networking equipment company said it will buy privately held cloud networking company Meraki for US$1.2bil (RM3.6bil) in cash as part of its cloud and networking strategy. - Reuters
NEW YORK: Networking equipment company Cisco Systems Inc said it will buy privately held cloud networking company Meraki for US$1.2bil (RM3.6bil) in cash as part of its cloud and networking strategy.
Cisco said the acquisition of Meraki, which was founded in 2006 by members of MIT’s Laboratory for Computer Science, is expected to close in the second quarter of Cisco’s 2013 fiscal year and is subject to regulatory approval.
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