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Cisco Snaps Up Meraki for over $1 Billion

One point two big big ones is the fee for the cloud-based networking company, a brainchild of three MIT graduates back in 2006.

If you didn’t put much stock into cloud computing, think again. Cisco Systems has forked out $1.2 billion to acquire Meraki, a 100% cloud-managed networking company. The firm, founded by “three guys” at MIT’s Laboratory for Computer Science back in 2006, was approached by Cisco a couple of months back but, according to CEO Sanjit Biswas’ memo to employees, were all for continuing alone until last week, when “we felt that joining Cisco was the right path for Meraki.”

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The deal, which will be subject to the usual regulatory approval, is expected to go through in the first half of next year. Cisco’s plan is to turn Meraki into a new Cloud Networking Group, and use the firm’s technology to “cloudify” its products.

About the author

My writing career has taken me all round the houses over the past decade and a half--from grumpy teens and hungover rock bands in the U.K., where I was born, via celebrity interviews, health, tech and fashion in Madrid and Paris, before returning to London, where I now live. For the past five years I've been writing about technology and innovation for U.S.

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