Cisco (NASDAQ: CSCO) and Acacia Communications (NASDAQ: ACIA) today announced an amendment to the definitive merger agreement under which Cisco previously agreed to acquire Acacia. Under the terms of the amended agreement, Cisco would acquire Acacia for $115 per share in cash, or for approximately $4.5 billion on a fully diluted basis, net of cash and marketable securities. Cisco and Acacia expect to complete the acquisition by the end of the first calendar quarter of 2021, subject to closing conditions, including Acacia stockholder approval.
Upon completion of the acquisition, CEO Raj Shanmugaraj and Acacia employees will join Cisco’s Optics business.
“I am delighted that Cisco and Acacia have decided to come together in this mutual deal,” said Chuck Robbins, chairman and CEO, Cisco. “We look forward to welcoming Raj and the Acacia team to Cisco to offer our customers world-class coherent optical solutions to power the Internet for the future.” […]