Cisco Inc. today announced it will acquire Meraki Inc. for $1.2 billion, a deal which demonstrates the growing importance of Wi-Fi and of empowering employees to use their own devices. The remuneration is in cash and retention-based incentives.
Meraki offers Wi-Fi, switching, security and mobile device management that can be centrally managed, a capability that was only available to large companies not long ago, using its cloud-based platform. Once the acquisition is completed in 2013, Meraki will form Cisco’s new Cloud Networking Group.
Meraki was co-founded by three members of MIT’s Laboratory for Computer Science: Sanjit Biswas, CEO; John Bicket, chief technical officer; and Hans Robertson, vice president of product manager. It is headquartered in San Francisco with offices in New York, London and Mexico. Meraki had been operating with $80 million in venture funding from Google, Felicis Ventures and Sequoia Capital.
“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. These companies have the same IT needs as larger organizations, but without the resources to integrate complex IT solutions,” said Rob Soderbery, senior vice president, Cisco Enterprise Networking Group. “Meraki’s solution was built from the ground up optimized for cloud, with tremendous scale, and is already in use by thousands of customers to manage hundreds of thousands of devices.”
Meraki – http://www.meraki.com
Cisco – press release
Meraki – Cisco Acquisition FAQ