Cisco Systems Inc is reportedly looking to purchase cloud-networking start-up Meraki for $1.2 billion in cash, says news reports.
Cisco is expected to close the deal in the second quarter of financial year 2013. The deal will be subject to regulatory approval.
The acquisition of Meraki would help Cisco Systems Inc consolidate its cloud and networking business.
The privately held cloud networking company Meraki based out of San Francisco, CA, was founded by members of MIT’s Laboratory for Computer Science in 2006. Meraki was funded by Sequoia Capital and Google.
