Cisco, the Networking giant agreed for acquiring Acacia for $115 per share in cash (~$4.5 billion).

A component supplier and maker of high-speed optical interconnect technology for networking systems, Acacia got the initial offer from Cisco at $70 per share or $2.6 billion in July 2019.

The chairman and CEO of Cisco, Chuck Robbins, said, “I am delighted that Cisco and Acacia have decided to come together in this mutual deal.”

A statement read by Robbins included, “We look forward to welcoming Raj and the Acacia team to Cisco to offer our customers world-class coherent optical solutions to power the Internet for the future.”

With the completion of the acquisition, the CEO Raj Shanmugaraj and Acacia employees will be joining Cisco’s optics business.

Cisco and Acacia is expected to complete the acquisition by the end of the first calendar quarter of 2021.

In the previous week, Acacia announced of terminating its merger agreement with Cisco after the company failed to align the set of closing the conditions like "obtaining necessary regulatory approvals within the timeframe contemplated by the merger agreement."

Cisco said that it’s committed to supporting Acacia’s existing and new customer base around the world that require industry-leading coherent optics, digital signal processing/photonic integrated circuit modules and transceivers for utilization of networking products and data centers.

Raj also added, “We maintain our strong conviction in the strategic benefits of joining the Cisco family and believe it will enable us to better support our existing customers, while reaching an expanded footprint of new customers globally."

Cisco said that the acquisition will be benefitting the existing enterprise network portfolio.