Cisco Offers $1.2B For Cloud-Computing Startup

Law360, New York (November 19, 2012, 11:59 AM EST) -- Networking company Cisco Systems Inc. will continue a spate of acquisitions with the $1.2 billion purchase of Meraki Inc., a venture capital-backed cloud-computing startup, as the information technology industry shifts to mobile and cloud technology.

The all-cash offer covers the cost of Meraki's business and operations plus executive retention packages. Cisco did not say how it would fund the purchase, which will lift Meraki stakes from investors including Google Inc., Sequoia Capital LLP and DAG Ventures. Pending regulatory approval, the companies said they expected to finalize...
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