Sequoia, DAG, Google secure $1.2bn Meraki exit to Cisco

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Venture capital-backed cloud networking company Meraki has been snapped up by Cisco in a $1.2bn deal.

The company, which boasts investors including Sequoia Capital, DAG Ventures and Google, offers onsite networking for Wi-Fi, switching, security and mobile devices that can be centrally managed through the cloud.

Cisco’s acquisition is expected to close in the second quarter of fiscal year 2013, subject to customary closing conditions including regulatory review.

Sequoia first partnered with Meraki in 2006, the year the company was founded.

San Francisco-based Meraki’s board currently includes Sequoia Capital’s Douglas Leone and DAG’s Nicholas Pianim.

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