March 2, 2016 | Cisco Systems has reportedly acquired Israeli company Leaba Semiconductor for $350-$400 million, according to Globes. Established in 2014 by CEO Eyal Dagan and CTO Ofer Eini, Leaba develops fabless semiconductors. The company, still operating in stealth mode, explains on its website that it provides “innovative solutions for significant infrastructure challenges,” and “is backed by blue-chip investors and led by seasoned entrepreneurs.” The latter statement can be confirmed: the founders previously setup and sold Dune Networks to Broadcom in 2009 for $200 million, and the pair reportedly received $50 million from the exit. Globes reports that investors in Leaba include Pitango Venture Capital and Bessemer Venture Partners, which hold 13% and 15% respectively, while Dagan and Eini hold only a 2% stake each. 53% of the company is held in trust and it is not clear who holds these shares. This is Cisco’s 12th acquisition in Israel, following its purchase of Ra’anana-based self optimization network software company Intucell for $475 million in 2013.