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Cisco buys semiconductor firm Leaba

Cisco Wednesday said it would purchase Israeli-based Leaba Semiconductor to beef up its chip research and development efforts.

Cisco said the acquisition–for $320 million in cash–will lay the groundwork for the next generation of switches, routers and other network components, according to Rob Salvagno, head of Cisco’s M&A and venture investing team.

“By combining Leaba’s semiconductor expertise with the Cisco engineering team, we will accelerate our plans for Cisco’s next generation product portfolio and bring new capabilities to the market faster,” he said in a blog post.

Leaba, which is still operating in stealth mode and has yet to release a product, specializes in developing new technologies and is not a manufacturer. Leaba’s management and executive team–which includes founders Eyal Dagan and CTO Ofer Eini, will report to Ravi Cherukuri, senior vice president of Cisco’s Core Hardware Group.

The Leaba purchase comes one day after Cisco acquired cloud management vendor CliQr Technologies Inc. for $260 million. Last month, Cisco bought Jasper Technologies, an IoT platform provider, for $1.4 billion.

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