Acacia Communications Announces Expiration of the HSR Waiting Period for Proposed Acquisition by Cisco Systems, Inc.
September 27 2019 - 7:30AM
Acacia Communications, Inc. (NASDAQ: ACIA), a leading provider of
high-speed coherent optical interconnect products, today announced
that the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended (the “HSR Act”), expired with
respect to with the proposed acquisition of Acacia Communications
by Cisco Systems, Inc. (NASDAQ: CSCO) at 11:59 p.m. Eastern Time,
on September 26, 2019. The expiration of the waiting period
under the HSR Act satisfies one of the conditions to the closing of
the acquisition, which remains subject to customary closing
conditions, including antitrust approvals in Germany and
China. The acquisition has also received regulatory clearance
from the Austrian Federal Competition Authority. The
acquisition is expected to close during the second half of Cisco’s
FY2020.
About Acacia CommunicationsAcacia
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 StatementsThis
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 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 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: IR@acacia-inc.com
Lindsay SavareseOffice: (212) 331-8417Email:
IR@acacia-inc.com
Public Relations Contact:Kelly KarrAcacia
CommunicationsOffice: (408) 718-9350Email: PR@acacia-inc.com
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.
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