Cisco has reportedly outbid others and is set to buy Tokyo Electron-backed semiconductor technology developer Luxtera for hundreds of millions of dollars.

Networking equipment provider Cisco has entered discussions to acquire US-based fabless semiconductor technology producer Luxtera in a deal that would enable electronics manufacturer Tokyo Electron to exit, Bloomberg reported on Tuesday. Cisco is set to pay “hundreds of millions of dollars” for the company, people familiar with the plans told Bloomberg, adding that it outbid…

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