Cisco has acquired cloud infrastructure startup Meraki in an all-cash deal rumored to be around $1.2 billion. The Cisco press release insists the deal "complements and expands Cisco's strategy to offer more software-centric solutions to simplify network management, help customers empower mobile workforces, and generate new revenue opportunities for partners." Meraki, which began as an MIT project back in 2006 dubbed Roofnet, originally popped up on our radar as a low-cost last mile Wi-Fi solution. A letter to employees insists the company originally planned an IPO and had rejected Cisco's advances, though the price and promises ultimately were too alluring to reject. The Meraki acquisition FAQ has more detail on the acquisition.