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Confirmed – Cisco's buying Leaba Semiconductor
In a Cisco blog post, Rob Salvagno – the head of Cisco’s M&A and venture investment team – confirmed Cisco’s intent to acquire the Israeli fabless semiconductor company, Leaba Semiconductor.
The the blog post, Mr Salvagno writes that the acquisition advances the company's innovation strategy, and supports its goal for continued differentiation of its products.
“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,” Rob Salvagno writes.
Under the terms of the agreement, the American company will pay USD 320 million in cash and assumed equity awards, plus additional retention based incentives.
