Cisco has acquired cloud networking company Meraki for $1.2 billion in cash, the companies have announced. The acquisition is subject to regulatory approval and is expected to close in the second quarter of Cisco’s 2013 fiscal year.
“When compared to other opportunities, Meraki built a unique cloud-based business from the ground up that addresses the broader networking shift towards cloud, not just within wireless. Meraki created a massively scalable architecture that offers easy to deploy, secure, and manage networks,” wrote Cisco in a blog post announcing the acquisition.
Meraki is a San Francisco-based company, founded in 2006 by MIT PhD candidates, and was funded by Sequoia Capital and Google. Cisco claims Meraki today supports 20,000 customers and “hundreds of thousands” of network devices on its platform.