SAN JOSE, Calif., March 1, 2021 /PRNewswire/ --
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
About Cisco
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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 Cisco's commitment to
optics as a building block as an 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 February 16,
2021 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.
Press
Contact:
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Industry Analyst
Contact:
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Investor Relations
Contact:
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Robyn Blum
|
Michael
Piramoon
|
Carol
Villazon
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+1 408 930
8548
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+1 831 226
9944
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+1 408 527
6538
|
rojenkin@cisco.com
|
mpiramoo@cisco.com
|
carolv@cisco.com
|
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SOURCE Cisco Systems, Inc.