Cisco intends to procure Acacia Communications for $70 per share in real money in a $2.6 billion arrangement on a completely weakened premise, the organizations declared Tuesday.

Acacia was up over 35% Tuesday, adding nearly $700 million to its market top, which is currently near $2 billion. Cisco offers climbed marginally.

The obtaining will improve Cisco’s optical frameworks portfolio, as indicated by an official statement. Acacia is a systems administration organization that is as of now a provider for Cisco.

The arrangement is relied upon to shut in the second 50% of Cisco’s financial year 2020, as indicated by the declaration. Acacia representatives will turn out to be a piece of Cisco’s Optical Systems and Optics business upon the nearby, the organizations said.

A year ago, Cisco reported plans in August to procure cloud-based cybersecurity firm Duo Security for $2.35 billion in real money and stock. In December, Cisco said it wanted to secure semiconductor organization Luxtera for $660 million in real money and accepted value.