REUTERS - Networking equipment company Cisco Systems Inc (CSCO.O) said it will buy privately held cloud networking company Meraki for $1.2 billion in cash as part of its cloud and networking strategy.
Cisco said the acquisition of Meraki, which was founded by members of MIT's Laboratory for Computer Science, is expected to close in the second quarter of Cisco's 2013 fiscal year and is subject to regulatory approval.
(Reporting by Nicola Leske)
Trending On Reuters
India plans to pull its tariff regime closer in line with global norms to prepare for new regional trade pacts being negotiated by advanced economies, the government said on Wednesday. Full Article
Weak demand weighs on China factory, services firms in March, more easing seen Full Article