TechTaffy

tech:

taffy

Cisco Acquires Meraki For $1.2B

By TechTaffy Desk

[Techtaffy Newsdesk]

Cisco is acquiring privately held Meraki.  Meraki will form Cisco’s new Cloud Networking Group.

Under the terms of the agreement, Cisco will pay approximately $1.2 billion in cash and retention-based incentives to acquire the entire business and operations of Meraki. The acquisition is expected to close in the second quarter of Cisco’s fiscal year 2013, subject to customary closing conditions, including regulatory review.

Headquartered in San Francisco, Calif., with offices in New York, London and Mexico, Meraki offers midmarket customers  on-premise networking solutions that can be centrally managed from the cloud. Meraki solutions support BYOD, guest networking, application control, WAN optimization, application firewall and other advanced networking services.

Meraki was founded by members of MIT’s Laboratory for Computer Science. Investors in the company include Google Ventures, DAG Ventures and Sequoia Capital.

If you are a Meraki customer,  your license term remains unchanged, and the support, SLA, maintenance and feature updates continue to be included. You can find a FAQ about the acquisition at the Meraki website here.

[Image courtesy: Meraki/Facebook]

Just in

AI

OpenAI introduces new enterprise features

OpenAI announced new features aimed at enterprise users on Tuesday, at the wake of Meta's recent LLama 3 announcement.
Around the web

Oracle is moving its world headquarters to Nashville to be closer to health-care industry — CNBC

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter, writes Ashley Capoot.
Industry

Square expands offline payments globally

Payment processing company Square has announced the expansion of its offline payments feature to all hardware devices and countries.
Around the web

U.S. bans noncompete agreements for nearly all jobs — NPR

The Federal Trade Commission narrowly voted Tuesday to ban nearly all noncompetes, employment agreements that typically prevent workers from joining competing businesses or launching ones of their own, writes Andrea Hsu. 
AI

The Coca-Cola Company commits $1.1B to Microsoft Cloud and AI partnership

The Coca-Cola Company and Microsoft announced a five-year partnership on Tuesday. As part of the collaboration, Coca-Cola has committed $1.1 billion to Microsoft Cloud and generative AI capabilities.