March 3, 2016
Intends to Buy Israel-Based Leaba Semiconductor
An announcement of a pending purchase by Cisco isn’t shedding much light on the potential deal.
In a short announcement posted to the company’s blog site, Cisco’s vice-president explained an intended acquisition of Leaba Semiconductor. Rob Salvagno’s post said the Israel-based company has a strong and successful track record of designing leading edge networking semiconductors.
“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. 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,” he stated in the post.
Leaba’s website describes the company as “a fabless semiconductor company operating in stealth mode to provide innovative solutions for significant infrastructure challenges. Leaba is backed by blue-chip investors and led by seasoned entrepreneurs and prominent technology experts.”
There is no mention of the pending purchase on Leaba’s site.
Cisco, it is reported in the blog post, will pay $320 million in cash and assumed equity awards, plus additional retention-based incentives.
W. Brice McVicar is a staff writer for SiteProNews.