Acacia Communications Announces Regulatory Approval in Germany for Proposed Acquisition by Cisco Systems, Inc.
This clearance satisfies one of the conditions to the closing of the acquisition, which remains subject to customary closing conditions, including antitrust approval in China.
MAYNARD, Mass., Nov. 11, 2019 (GLOBE NEWSWIRE) -- Acacia Communications, Inc. (NASDAQ: ACIA), a leading provider of high-speed coherent optical interconnect products, today announced that it has received regulatory clearance from the German Federal Cartel Office with respect to with the proposed acquisition of Acacia Communications by Cisco Systems, Inc. (NASDAQ: CSCO). This clearance satisfies one of the conditions to the closing of the acquisition, which remains subject to customary closing conditions, including antitrust approval in China. Acacia previously announced that the acquisition had also received regulatory clearance in the United States and Austria. The acquisition is expected to close during the second half of Cisco’s FY2020.
About Acacia Communications
Acacia Communications develops, manufactures and sells high-speed coherent optical interconnect products that are designed to transform communications networks through improvements in performance, capacity and cost. By implementing optical interconnect technology in a silicon-based platform, a process Acacia Communications refers to as the “siliconization of optical interconnect,” Acacia Communications is able to offer products at higher speeds and density with lower power consumption, that meet the needs of cloud and service providers and can be easily integrated in a cost-effective manner with existing network equipment. For more information about Acacia, visit www.acacia-inc.com or follow on Twitter at @AcaciaComms.
Forward Looking Statements
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should be considered to be forward-looking statements, although not all forward-looking statements contain these identifying words. Readers should not place undue reliance on these forward-looking statements. Forward-looking statements include statements regarding the expected completion of the acquisition. Statements regarding future events are based on the parties’ current expectations and are necessarily subject to associated risks related to, among other things, the risk that the proposed acquisition may not be completed in a timely manner, or at all, which may adversely affect Acacia’s business and the price of its common stock, obtaining regulatory approval of the acquisition in China or that other conditions to the closing of the transaction may not be satisfied, the effect of the announcement or pendency of the proposed acquisition on Acacia’s business, operating results, and relationships with customers, suppliers, competitors and others, risks that the proposed acquisition may disrupt Acacia’s current plans and business operations, risks related to the diverting of management’s attention from Acacia’s ongoing business operations, the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement, the outcome of any legal proceedings related to the transaction, general economic conditions, the retention of employees of Acacia and the ability of Cisco to successfully integrate Acacia’s market opportunities, technology, personnel and operations and to achieve expected benefits. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. For information regarding other related risks, see the “Risk Factors” section of Acacia’s most recent reports on Forms 10-Q and Form 10-K filed with the SEC on October 30, 2019, August 6, 2019, May 2, 2019 and February 21, 2019, respectively. The parties undertake no obligation to revise or update any forward-looking statements for any reason.
Acacia Investor Relations Contact:
Monica Gould
Office: (212) 871-3927
Email: [email protected]
Lindsay Savarese
Office: (212) 331-8417
Email: [email protected]
Public Relations Contact:
Kelly Karr
Acacia Communications
Office: (408) 718-9350
Email: [email protected]
The Acacia name and logo and the Acacia logo are registered trademarks of Acacia Communications, Inc. in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.
