Global networking giant Cisco is set to expand in the cloud computing market by acquiring Meraki for $1.2bn (£750m).
Founded by members of MIT’s Laboratory for Computer Science, Meraki offers cloud-based networking solutions and its services are used by more than 10,000 businesses worldwide.
"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," said Cisco senior vice president, Rob Soderbery.
"Meraki’s solution was built from the ground up optimised for cloud, with tremendous scale, and is already in use by thousands of customers to manage hundreds of thousands of devices."
This is Cisco’s second big purchase this month. Last week the company acquired data centre management firm Cloupia for $125m.
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