Cisco to pay $320 million for stealthy startup

March 02, 2016 // By Peter Clarke
Big Money
Cisco Systems Inc. has said it intends to acquire Leaba Semiconductor Ltd. (Ceasarea, Israel) for $320 million plus incentives to retain key staff.

Leaba was founded in 2014 by Eyal Dagan, who serves as CEO, and Ofer Iny, who serves as CTO. The company says nothing about its activities on its website but according to Rob Salvagno, vice president of corporate business development at Cisco, Leaba has built a strong team with a track record in designing networking chips.

Dagan and Iny, were co-founders of Dune Networks Inc., a supplier of chips for traffic management in scalable switching fabrics, Dune was founded in 2000 and sold to Broadcom for about $180 million in 2009.

The Leaba is reported to be 45 people and to be venture backed by Bessemer Venture Partners and Pitango Venture Partners.

The Leaba team will report into Cisco's core hardware group, led by senior vice president, Ravi Cherukuri, Cisco said.

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