Network giant, Cisco this week announced its plan to acquire Leaba Semiconductor, a fabless semiconductor company based in Israel that is still in stealth mode, for $320 million. The Leaba team will report into Cisco’s Core Hardware Group, led by Senior Vice President, Ravi Cherukuri.
Rob Salvagno, the Head of Cisco’s M&A and venture investment team, wrote in a blog post that, "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."
The latest acquisition follows Cisco’s Tuesday announcement of the acquisition of Cliqr Technologies for about $260 million to enhance offerings in cloud computing management software and services.