Cisco Techniques Corp. stated Thursday that it has struck a brand new deal to purchase Acacia Communications Inc., boosting the unique buy worth by 64%.
Networking-equipment big Cisco stated it could now pay $115 a share for Acacia in a deal that values the maker of optical interconnect applied sciences, corresponding to modules and semiconductors, at about $4.5 billion on a completely diluted foundation.
San Jose, Calif.-based Cisco agreed in July 2019 to pay $70 a share for Acacia, which final week moved to terminate the deal, claiming that Cisco hadn’t acquired well timed approval from Chinese language regulatory authorities. Cisco disputed that declare and sued Acacia in Delaware Chancery Court docket to compel the Maynard, Mass.-based firm to shut the transaction underneath its earlier phrases.
A spokeswoman for Cisco stated the corporate plans to file a movement to dismiss with the lawsuit Thursday.
Acacia executives stated on a name Monday that because the preliminary settlement was introduced, the corporate has benefited from stronger demand from some buyer teams in addition to enhancements in its product portfolio and relationships with present prospects. The corporate’s share worth has traded over the $70-a-share mark since early December.
