Cisco nabs cloud-networking start-up Meraki for $1.2 billion

The three colleagues who created the cloud-networking and Wi-Fi startup Meraki at MIT’s Laboratory for Computer Science six years ago were not expecting to be acquired by Cisco Systems. But the tech giant announced today its intent to buy the startup saying it plans to throw down $1.2 billion in cash, along with retention-based incentives.
“The acquisition of Meraki enables Cisco to make simple, secure, cloud managed networks available to our global customer base of mid-sized businesses and enterprises,” Cisco’s Enterprise Networking Group senior vice president Rob Soderbery said in a…

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