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Network equipment maker Cisco said on Tuesday it would buy optical component maker Acacia Communications for $ 2.84 billion in cash. The $ 70 per share offer represents a 46% premium to Acacia's closing price on Monday.
The deal represents Cisco's largest acquisition since the $ 3.7 billion acquisition of business performance monitoring software company AppDynamics in 2017. Excluding Acacia's cash and marketable securities, the deal is valued at 2.6 billions of dollars, Cisco said.
Acacia, also a supplier to Cisco, designs and manufactures high-speed optical components and has telecommunications service providers and data center operators as customers.
Read More: cisco ips
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