Computer Networking Giant Cisco Systems Inc. to Buy Meraki for $1.2 Billion
Computer networking giant Cisco Systems Inc. will buy San Francisco-based Meraki Inc. for $1.2 Billion. Established in 2006, Meraki’s solutions enable cloud-based management of a range of mobile, wi-fi, security and switching devices. Meraki, which has offices in Mexico, London and New York, had originally considered public trading before deciding to join Cisco as a means of achieving its $1 billion a year revenue target.
Meraki will become part of Cisco's new Cloud Networking Group led by Sanjit Biswas, the CEO of Meraki. The deal is expected to be completed in January 2013 and the $1.2 Billion price tag is made up of cash and “incentives”. The purchase is aimed at further enhancing its cloud computing capability and comes on the heels of its $125 million purchase of data center operator software developer Cloupia just one week ago.
"Meraki's solution was built from the ground up optimized for cloud, with tremendous scale, and is already in use by thousands of customers to manage hundreds of thousands of devices," explained a statement from Cisco Enterprise Networking Group’s Senior Vice President, Rob Soderbery.
Clearly Cisco is moving into the Cloud in a big way… How do you feel about that? Let us know your comments below.
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