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 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 last year 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 of 2021.

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 09:50 ET (14:50 GMT)

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