Acacia Communications
IPO 2016
Acquired by Cisco 2021
"Summit has been a true partner for Acacia, delivering tangible value in several ways. Their extensive industry network, unique perspectives on the optical networking sector, and solid strategic guidance have helped position Acacia for growth."
Revenue growth during Summit’s investment
Employee headcount growth
Completed IPO in May 2016, the first venture-backed tech IPO of 2016
Revenue growth during Summit’s investment
Employee headcount growth
Completed IPO in May 2016, the first venture-backed tech IPO of 2016
Acacia was founded in 2009 with a vision to lead the optical networking industry into the 100G+ era. As one of the first vendors to launch a 100G subsystem with coherent detection in 2011, Acacia established an early leadership position in a rapidly growing market, with demand driven by network upgrade cycles as communications providers work to meet exponentially rising bandwidth demands. Seeking to accelerate R&D efforts to capitalize on the market opportunity, we believe Acacia chose to partner with Summit based on the firm’s deep communications technology experience, particularly in the optical networking sector.
How Summit Partners Helped
- Led a minority investment in 2013
- Supported management in the recruitment of key executives as the company scaled, including an SVP of Operations who led significant improvements in Acacia’s supply chain
- Recruited a CFO with extensive public company experience to the Board of Directors and to serve as Chairman of the Audit Committee
- Advised management on the establishment of comprehensive systems and controls to strengthen financial reporting Assisted Acacia in preparing for and executing its 2016 initial public offering (NASDAQ: ACIA)
Acacia continued to innovate, with a mission to drive the “siliconization of optical interconnect” with products that are transforming cloud, content and communications networks. By converting optical interconnect technology to a silicon-based technology, Acacia reduced the complexity and cost of high-speed networks while providing improvements in speed, capacity and power consumption. Summit exited the business in 2019. In 2021, Acacia was acquired by Cicso for approximately $4.5 billion.
The Portfolio Company Executive quoted herein did not receive compensation for any statements regarding Summit Partners. However, since Acacia Communications is a former portfolio company of Summit, this individual did receive general compensation in connection with his employment by the company. In addition, this individual is not an investor in a Summit fund but may have conflicts arising from his past role with Acacia Communications due to the company’s relationship with Summit.
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