Cisco Provides Update on Acacia Acquisition
SAN JOSE, Calif., Jan. 8, 2021 /PRNewswire/ -- Cisco (NASDAQ: CSCO) today announced that it is seeking confirmation from the Delaware Court of Chancery that it has met all conditions for closing of its acquisition of Acacia Communications (NASDAQ: ACIA), including approval of China's State Administration for Market Regulation (SAMR). Cisco is also seeking a court mandate that the agreement may not be terminated until the court resolves these matters, and an order from the court requiring Acacia to close the transaction. On January 7, 2021, Cisco was notified by SAMR that the agency has determined that Cisco's submission is "sufficient to address the relevant competition concerns."
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