Cisco to Buy Cloud Networking Company for $1.2B

SAN JOSE, Calif. — As part of its cloud and networking strategy, Cisco Systems plans to buy privately held cloud networking company Meraki for $1.2 billion.

Founded in 2006, Meraki offers Wi-Fi technology, switching, security and mobile device management from the cloud to mid-sized companies, Reuters reports.

Subject to regulatory approval, the deal is expected to close in the second quarter of Cisco’s 2013 fiscal year.

Source: Reuters

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