Cisco Buy Of Meraki Strategic, But Price Tag Steep
Shares of Cisco Systems (CSCO) rose 1% in early trading Monday, after the company announced Sunday evening that it's buying cloud-based networking company Meraki, partially funded by Google (GOOG). Cisco agreed to pay $1.2 billion for Meraki, which specializes in wireless local area network technology. Cisco already has some products in that arena, but Meraki's technology does not require an on-site controller, which can make it more attractive to
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