Cisco Provides Update on Acacia Acquisition

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Jan 08, 2021, 09:23 ET

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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Forward Looking Statements
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should be considered to be forward-looking statements, although not all forward-looking statements contain these identifying words. Readers should not place undue reliance on these forward-looking statements. Forward-looking statements may include statements regarding the enhancement to Cisco's strategy, support of Acacia's existing customers and new customers, and Acacia personnel. Statements regarding future events are based on the parties' current expectations and are necessarily subject to associated risks related to, among other things, general economic conditions, including as related to the ongoing COVID-19 pandemic, the retention of employees of Acacia and the ability of Cisco to successfully integrate Acacia's market opportunities, technology, personnel and operations and to achieve expected benefits. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. For information regarding other related risks, see the "Risk Factors" section of Cisco's most recent quarterly report on Form 10-Q filed with the SEC on November 17, 2020 and on its most recent annual report on Form 10-K filed with the SEC on September 3, 2020, as well as the "Risk Factors" section of Acacia's most recent quarterly report on Form 10-Q filed with the SEC on November 9, 2020 and on its most recent annual report on Form 10-K filed with the SEC on February 18, 2020. The parties undertake no obligation to revise or update any forward-looking statements for any reason.

SOURCE Cisco