The company will have to pay a little over one billion dollars
Cisco has announced its intentions to acquire Meraki Inc, a company involved in cloud networking, with offices in San Francisco, New York, London, and Mexico.Cisco believes that the acquisition of Meraki will complement its strategy to offer more software-centric solutions to simplify network management, help customers empower mobile workforces, and generate new revenue opportunities for partners.
“The acquisition of Meraki enables Cisco to make simple, secure, cloud managed networks available to our global customer base of mid-sized businesses and enterprises. These companies have the same IT needs as larger organizations, but without the resources to integrate complex IT solutions,” said Rob Soderbery, senior vice president, Cisco Enterprise Networking Group.
Meraki provides customers Wi-Fi, switching, security and mobile device management centrally managed from the cloud.
Cisco must pay approximately $1.2 billion (€930 million) in cash and retention-based incentives to acquire the entire business and operations of Meraki.