Network giant Cisco are set to acquire cloud service provider Meraki for €1.2 billion.

Meraki with over 10,000 companies using its services is focused upon medium-sized businesses, the acquisition comes as the networking giant seeks to expand into the cloud services market.

In a statement, Cisco senior vice president, Rob Soderbery, said: "The acquisition of Meraki enables Cisco to make simple, secure, cloud managed networks available to our global customer base of mid-sized businesses and enterprises".