SAN JOSE, CA -- (Marketwire) -- 12/20/12 -- Cisco (NASDAQ: CSCO) today announced it has completed the acquisition of Meraki, Inc., a leader in cloud networking. Meraki offers midmarket customers easy-to-deploy on-premise networking solutions that can be centrally managed from the cloud.
The acquisition of Meraki complements and expands Cisco's strategy to offer more software-centric solutions to simplify network management, help customers empower mobile workforces, and generate new revenue opportunities for partners.
Meraki's cloud networking solutions will expand Cisco's network offerings by providing scalable solutions for midmarket businesses. The Meraki acquisition will also strengthen Cisco's Unified Access platform, which makes IT more responsive to business innovation by simplifying IT operations and unifying wired and wireless networks, policy and management into one integrated network infrastructure, unlike other competitive offerings.
The Meraki team will become Cisco's Cloud Networking Group. Under the terms of the agreement, Cisco paid approximately $1.2 billion in cash to acquire the entire business and operations of Meraki.
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This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, among others, statements regarding the expected benefits to Cisco, its product platforms and its customers from completing the acquisition, plans regarding Meraki personnel, and statements regarding our strategy to accelerate the adoption of software-based business models, our value proposition with customers, our competitive performance and new market opportunities. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, the potential impact on the business of Meraki due to the uncertainty about the acquisition, the retention of employees of Meraki and the ability of Cisco to successfully integrate Meraki and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.