Acacia Communications terminated its merger agreement with Cisco Systems, Inc., effective immediately.
The company said it was not able to obtain approval from the Chinese government’s State Administration for Market Regulation within the timeframe contemplated by the merger agreement.
Acacia also advised that Cisco may dispute Acacia’s right to have terminated the merger agreement.
Cisco to acquire Acacia for Coherent Optics
Cisco agreed to acquire Acacia Communications for $70.00 per share in cash, or for approximately $2.6 billion on a fully diluted basis, net of cash and marketable securities. The deal is expected to close during the second half of Cisco's FY2020. Acacia employees will join Cisco's Optical Systems and Optics business within the networking and security business under David Goeckeler.
Acacia, which is headquartered in Maynard, Massachusetts and is publicly traded ((NASDAQ: ACIA), develops, manufactures and sells high-speed coherent optical interconnect products, including digital signal processing / photonic integrated circuit modules, and transceivers.
http://ir.acacia-inc.com/static-files/3364e03b-6e70-4933-8c93-84b6fe4c74df
