The networking semiconductors specialist is being acquired as a result of its successful design track record of addressing significant infrastructure challenges, said Rob Salvagno, head of Cisco's M&A and venture investment team.
“This acquisition advances our innovation strategy, supports continued differentiation of Cisco products and delivers on our goal to provide best-in-class solutions for our customers,” Salvagno added.
“By combining Leaba’s semiconductor expertise with the Cisco engineering team, we will accelerate our plans for Cisco’s next generation product portfolio and bring new capabilities to the market faster.”
The Leaba team, headed by Eyal Dagan, will report into Cisco’s core hardware group, led by senior vice president, Ravi Cherukuri.
Under the terms of the agreement, Cisco will pay $320 million in cash and assumed equity awards, plus additional retention based incentives.
