facebook rss twitter

Cisco to buy Pure Digital for $590 million in stock

by Scott Bicheno on 19 March 2009, 15:26

Tags: Cisco (NASDAQ:CSCO)

Quick Link: HEXUS.net/qariu

Add to My Vault: x

Pure ambition

Not content with unveiling ambitious plans to take on the likes of IBM, HP and Dell in the data centre market, networking giant Cisco has today announced its intention to acquire the company behind the Flip mini video cameras - Pure Digital.

This is part of Cisco's drive to become the dominant brand in the digital home market, as indicated by its recent appointment of Micro-P as a UK distributor of its Linksys brand of consumer networking products.

Cisco also acquired a networking company called Pure networks last year, but the two companies appear to be, until now, unrelated. They're also not to be confused with digital radio company, PURE.

"The acquisition of Pure Digital is key to Cisco's strategy to expand our momentum in the media-enabled home and to capture the consumer market transition to visual networking," said Ned Hooper, senior VP of Cisco's corporate development and consumer groups. 

"This acquisition will take Cisco's consumer business to the next level as the company develops new video capabilities and drives the next generation of entertainment and communication experiences."

Current CEO and chairman of Pure Digital, Jonathan Kaplan will become the general manager of the consumer business group, which includes Linksys, when the $590 million acquisition is complete, and report to Hooper. This is expected to happen in Q4 of Cisco's 2009 fiscal year.

 



HEXUS Forums :: 0 Comments

Login with Forum Account

Don't have an account? Register today!
Log in to be the first to comment!