About the Author: Calin is a network engineer, with more than 8 years of experience in
designing, installing, troubleshooting, and maintaining large enterprise WAN and LAN networks. Currently he's Cisco (CCNA, CCNP, CCIP) and Linux (LPIC) certified and working to obtain CCIE certification.
Cisco buying Flip video camera maker for $590 million
Calin | Mar 19, 2009 | Comments 0
Cisco Thursday announced its intent to acquire privately held Pure Digital Technologies, creator of the Flip video camcorder for consumers, for $590 million in stock.
Pure Digital is a “pioneer” in developing consumer-friendly video with mass-market appeal, Cisco says. The acquisition of Pure Digital is key to Cisco’s strategy to expand momentum in the media-enabled home and to capture the consumer market transition to visual networking, the company said in a statement.
In addition to exchanging $590 million in stock for all Pure Digital shares, Cisco will provide up to $15 million in retention-based equity incentives for continuing employees. The acquisition is expected to close in the fourth quarter of Cisco’s fiscal year 2009.
Read the full article on NetworkWorld.com…
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