Cisco to acquire cloud networking company Meraki for $1.2 billion

Cisco said Sunday it intends to acquire Meraki, a vendor of technology for cloud-based management of wireless LAN, security appliances, and mobile devices for $1.2 billion in cash and retention-based incentives. The acquisition of Meraki, a privately held company in San Francisco, 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, Cisco said in a statement.

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