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Cisco Agrees to New Deal to Buy Acacia for $115 a Share

Cisco Agrees to New Deal to Buy Acacia for $115 a Share

Cisco Systems Corp. on Thursday said it has struck a new deal to buy Acacia Communications Inc., boosting the purchase price by 64%. Networking-equip

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Cisco Systems Corp. on Thursday said it has struck a new deal to buy Acacia Communications Inc., boosting the purchase price by 64%.

Networking-equipment 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 in 2019 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.

Acacia shares jumped 31% to $113.25 in early trading Thursday.

This post first appeared on wsj.com

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