On July 9, 2019, Acacia Communications, Inc. (NASDAQ:ACIA), a leading provider of high-speed coherent optical interconnect products, announced that it has entered into a definitive merger agreement with Cisco Systems, Inc. (NASDAQ:CSCO) for Cisco to acquire Acacia. Under the terms of the agreement, Acacia stockholders are to receive $70.00 in cash (without interest and subject to deduction for any required withholding tax) for each share common stock, for a total transaction value of approximately $3.1 billion in cash and assumed equity awards.  The acquisition is expected to close during the second half of Cisco’s fiscal year 2020, subject to customary closing conditions and required regulatory approvals.

Partners Jay Bothwick and Andrew Bonnes led the WilmerHale team on this transaction. The team also included Partners Mark Borden, Doug Burton, Leon Greenfield, Barry Hurewitz, Jeff Johnson, Jason Kropp, Amy Null, Julie Hogan Rodgers, Lester Ross, Laura Schneider and Kim Wethly; Counsel Judd Abramson, Ciara Baker and Jeffries Oliver-Li; Senior Associate Tingting Liu; Associates Ryan Crane, Ben Kelsey, Meghan Muncey and Tyler Rostock; and Summer Associates Zach Blair and Elijah Soko.