SAN JOSE, Calif., March 1, 2021 /PRNewswire/ --
- 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.
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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.
SOURCE Cisco Systems, Inc.