SAN JOSE, Calif., Jan. 8, 2021 /PRNewswire/ -- Cisco (NASDAQ:
CSCO) today announced that it is seeking confirmation from the
Delaware Court of Chancery that it
has met all conditions for closing of its acquisition of Acacia
Communications (NASDAQ: ACIA), including approval of China's State Administration for Market
Regulation (SAMR). Cisco is also seeking a court mandate that
the agreement may not be terminated until the court resolves these
matters, and an order from the court requiring Acacia to close the
transaction. On January 7, 2021,
Cisco was notified by SAMR that the agency has determined
that Cisco's submission is "sufficient to address the relevant
competition concerns."
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Forward Looking Statements
This press
release may be deemed to contain forward-looking statements, which
are subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Any statements that are not
statements of historical fact (including statements containing the
words "believes," "plans," "anticipates," "expects," "estimates"
and similar expressions) should be considered to be forward-looking
statements, although not all forward-looking statements contain
these identifying words. Readers should not place undue
reliance on these forward-looking statements. Forward-looking
statements may include statements regarding the enhancement to
Cisco's strategy, support of Acacia's existing customers and new
customers, and Acacia personnel. Statements regarding future
events are based on the parties' current expectations and are
necessarily subject to associated risks related to, among other
things, general economic conditions, including as related to the
ongoing COVID-19 pandemic, the retention of employees of Acacia and
the ability of Cisco to successfully integrate Acacia's market
opportunities, technology, personnel and operations and to achieve
expected benefits. Therefore, actual results may differ materially
and adversely from those expressed in any forward-looking
statements. For information regarding other related risks, see the
"Risk Factors" section of Cisco's most recent quarterly report on
Form 10-Q filed with the SEC on November 17,
2020 and on its most recent annual report on Form 10-K filed
with the SEC on September 3, 2020, as
well as the "Risk Factors" section of Acacia's most recent
quarterly report on Form 10-Q filed with the SEC on November 9, 2020 and on its most recent annual
report on Form 10-K filed with the SEC on February 18, 2020. The parties undertake no
obligation to revise or update any forward-looking statements for
any reason.
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SOURCE Cisco