(Reuters) – Acacia Communications Inc said on Friday it has terminated its nearly $3 billion merger agreement with Cisco Systems Inc, effective immediately.
“Because approval of the Chinese government’s State Administration for Market Regulation was not received within the timeframe contemplated by the merger agreement, Acacia did not have an obligation to close the merger before the arrival of the January 8, 2021 extended end date,” the company said.
(Reporting by Akanksha Rana in Bengaluru; Editing by Shinjini Ganguli)
