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

You May Also Like

Ukraine hints it blew up Russian missiles in occupied Crimea

A “mysterious explosion” destroyed Russian cruise missiles that were being transported through…

Global Chip Shortage ‘Is Far From Over’ as Wait Times Get Longer

Almost a year into a global chip shortage, the problems are increasing…

Jackie Mason, one of the last borscht belt comedians, dies at 93

Jackie Mason, the sometimes-controversial standup comedian who unapologetically embraced Jewish themes and…

Skier suffers fatal fall in Grand Teton National Park’s Death Canyon

A skier suffered a fatal fall Sunday in Grand Teton National Park’s…