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See the best of Reuters photography. See more | Photo caption Gaza conflict Conflict escalates in Gaza and Israel in the aftermath of an Israeli air strike which killed the Hamas military chief. Slideshow Facing eviction Families in Spain face the threat of eviction after failing to pay their mortgages. Slideshow Sponsored Links Cisco to buy cloud-networking start-up Meraki for $1.2 billion Tweet Share this Email Print Related News Ruckus Wireless prices IPO at high end of range: market source Thu, Nov 15 2012 AT&T to boost annual spending 16 percent to $22 billion Wed, Nov 7 2012 Apple sells 3 million iPads over first weekend Mon, Nov 5 2012 Insight: Crunching the numbers to boost odds against cancer Thu, Nov 1 2012 Federal agency to switch to iPhone, drop BlackBerry Mon, Oct 22 2012 Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Media » A sign marking a Cisco office is pictured in San Diego, California November 12, 2012. Credit: Reuters/Mike Blake By Nicola Leske Sun Nov 18, 2012 8:05pm EST (Reuters) - Networking equipment company Cisco Systems Inc said it will buy privately held cloud networking company Meraki for $1.2 billion in cash as part of its cloud and networking strategy. Cisco said the acquisition of Meraki, which was founded in 2006 by members of MIT's Laboratory for Computer Science, is expected to close in the second quarter of Cisco's 2013 fiscal year and is subject to regulatory approval. Cisco's second quarter runs until the end of January. Meraki - funded by Sequoia Capital and Google Inc - offers Wi-Fi technology, switching, security and mobile device management from the cloud with a focus on mid-sized businesses. "This is a very logical move for Cisco," said ZK research analyst Zeus Kerravala. He said the deal will allow Cisco to offer alternative solutions to traditional Wi-Fi deployment models like smaller competitors, such as Aruba Networks and Ruckus Wireless, which debuted on Friday. "Cisco didn't really have anything to counter that before," Kerravala noted. Meraki's Chief Executive Sanjit Biswas said in a letter to employees posted on the company website that Cisco had approached the company several weeks ago. The company's founders had at first rejected the offer in favor of continuing Meraki's strategy aimed at an initial public listing. "After several weeks of consideration, we decided late last week that joining Cisco was the right path for Meraki," Biswas said. He also said that Meraki had achieved a $100 million bookings run rate, grown to 330 employees and had a positive cash flow. (Reporting by Nicola Leske, editing by Gary Crosse) Tech Deals Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Global Deals Review Inflows Outflows Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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