Cisco has made moves to bolster its cloud and networking capabilities by purchasing privately held Meraki for $1.2bn in cash.
Meraki, which has an office in London, targets the mid market with device management tools across a range of hardware options and is well positioned to serve the BYOD trend.
The firm was set up in 2006 by some members of MIT;s laboratory for computer science and has a channel and inside sales approach that will form the new Cisco cloud networking group.
"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.
Under the terms of the agreement, Cisco will pay approximately $1.2bn in cash with the acquisition expected to close in the second quarter of Cthe vendor's fiscal year 2013.