Cisco to buy Meraki for $1.2 billion


Cisco to buy Meraki for $1.2 billion

NEW YORK

Cisco Systems Inc., the world’s largest maker of computer networking gear, is buying Meraki for $1.2 billion to expand its ability to let customers compute in the cloud.

Cloud computing refers to the increasingly popular practice of storing software applications in remote data centers that are accessed over the Internet instead of installing programs on individual machines.

Meraki Inc. is based in San Francisco and also has offices in New York, London and Mexico. The privately held company was founded in 2006 by members of MIT’s Laboratory for Computer Science. Meraki technology offers customers Wi-Fi, switching, security and mobile-device management centrally managed from the cloud.

Gas prices drop 7 cents over 2 weeks

CAMARILLO, Calif.

The average U.S. price of a gallon of gasoline has dropped 7 cents over the past two weeks.

That’s according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.47.

Midgrade costs an average of $3.65 a gallon, and premium is $3.78.

Diesel dipped 4 cents to $4.04 a gallon.

Of the cities surveyed in the lower 48 states, Memphis, Tenn., has the nation’s lowest average price for gas at $3.04. Long Island, N.Y., has the highest at $4.18.

Associated Press

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