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Cisco to acquire semiconductor company Luxtera for $660M

Cisco Systems Inc. plans to acquire California-based semiconductor company Luxtera Inc. for $660 million in cash and assumed equity awards.

The deal is expected to enhance the buyer's 100 Gigabit Ethernet and 400 GbE portfolio, among others.

Cisco said closing should occur in the third quarter of fiscal 2019, subject to regulatory approvals and customary conditions.