Cisco Systems to Buy Integrated Optics Company Luxtera for $660 Million
December 18 2018 - 9:18AM
Dow Jones News
By Allison Prang
Cisco Systems Inc. (CSCO) said Tuesday it is buying
semiconductor company Luxtera Inc. for $660 million in cash and
assumed equity awards.
Luxtera is a closely held integrated optics company based in
California.
Rising demand for internet bandwidth is driving the need for
addressing constraints in network infrastructure, said Rob
Salvagno, the head of Cisco's merger and acquisition and venture
investment team.
Cisco said it plans to integrate Luxtera's technology across its
networking portfolio.
The deal is expected to close in the third quarter of fiscal
year 2019.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
December 18, 2018 09:03 ET (14:03 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Cisco Systems (NASDAQ:CSCO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cisco Systems (NASDAQ:CSCO)
Historical Stock Chart
From Apr 2023 to Apr 2024
