Networking tech giant Cisco has just agreed to acquire cloud infrastructure startup Meraki, and my industry sources confirm the purchase price was $1.2 billion, all in cash. I’ve also gotten ahold of the letter to Meraki employees from CEO Sanjit Biswas. It’s a huge win for the 330-employee San Francisco startup. [Update: The PR just hit the wire, confirming our details on the acquisition and $1.2 billion price.]
Blogger Greg Ferro first mentioned a rumor about Cisco and Meraki early this morning, speculating they might announce a deal later this week. However, TechCrunch can confirm the purchase and the price tag.
For those unfamiliar, Meraki began as a research project at MIT in 2006. It provides mid to large-size companies, schools, and organizations with on-premise mesh Wi-Fi networking and security devices plus the software to manage them. The tech makes it easy and affordable to run a…
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