Cisco acquires Luxtera for $660 million

The move gives Cisco more optics firepower to expand its portfolio.

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Cisco said it will acquire Luxtera, a chip company focused on speeding up optic networks, in $660 million deal.

The networking giant said it will integrate Luxtera's intellectual property and technology throughout its enterprise, data center and service provider portfolio.

Cisco added that the deal is expected to close in its third fiscal quarter.

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According to Cisco, Luxtera will bolster Cisco's efforts in 100GbE/400GbE technologies and provide upgrade paths for its installed base. Cisco will also broaden its portfolio and use Luxtera to end more into the Internet of things, cloud and mobility (think 5G) markets.

Luxtera will fall under Cisco's optics unit and report to David Goeckeler, general manager of the networking and security unit.