Cisco Systems Corp. mentioned Thursday that it has struck a new deal to purchase Acacia Communications Inc., boosting the unique buy worth by 64%.
Networking-equipment big Cisco mentioned it could now pay $115 a share for Acacia in a deal that values the maker of optical interconnect applied sciences, comparable to modules and semiconductors, at about $4.5 billion on a absolutely 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 obtained well timed approval from Chinese regulatory authorities. Cisco disputed that declare and sued Acacia in Delaware Chancery Court to compel the Maynard, Mass.-based firm to shut the transaction beneath its earlier phrases.
A spokeswoman for Cisco mentioned the corporate plans to file a movement to dismiss the lawsuit Thursday.
Acacia executives mentioned on a name Monday that for the reason that 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 firm’s share worth has traded over the $70-a-share mark since early December.
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