Cisco Buying Meraki for $1.2 Billion for Wi-Fi Networking

Cisco Systems Inc. (CSCO) agreed to pay $1.2 billion for closely held Meraki Inc., adding technology that helps businesses manage Wi-Fi networks remotely and expanding its lineup of products for mid-sized customers.

Cisco, the world’s largest maker of computer-networking equipment, is using a combination of cash and retention-based incentives to pay for the acquisition, the San Jose, California- based company said yesterday in a statement.

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