Earlier this month we reported that Cisco Systems had acquired Pure Digital Technologies, the makers of the popular Flip Video cameras. Today, Cisco officially announced the deal, which was for $590 million in stock. (We had the price at “north of $500 million).
Pure Digital will become part of Cisco’s consumer business group, which includes Linksys home routers and set-top boxes from its acquisition of Scientific-Atlanta. Cisco is calling the Flip cameras a new form of “visual networking,” whatever that means. In reality, the Flip is built for the YouTube generation. It is designed to take videos and immediately upload the to the Web. (Its output is a handy USB stick that flips open and plugs in directly to a computer). In other words, it is a device that encourages activities that consume a lot of bandwidth. As a networking company, Cisco wants you to use as much bandwidth as possible.
It is also looking for new growth markets across consumer devices, enterprise Web communication apps (like WebEx, Postpath, and Jabber), and even into enterprise servers and storage.
Pure Digital has raised $68 million over the past five years from Sequoia, Benchmark, Steamboat Ventures,and others.
Crunch Network: CrunchBase the free database of technology companies, people, and investors
Related posts:
- It’s Official: Cisco Buys Pure Digital (Flip Video) For $590 Million Earlier this month we reported that Cisco Systems had...
- Pure Digital (Flip Video) In Acquisition Discussions; Cisco May Be Buying (Updated) San Francisco based Pure Digital Technologies, the seven year old...
- Pure Digital: Thanks For The $1.3 Million Check! How Do I Cash It? So here I am this morning opening a pile...
- Pure Digital: Thanks For The $1.3 Million Check! How Do I Cash It? Trust me, there’s nothing quite like opening up a...
- Flip Video: Wrong, Wrong, Wrong And Then So, So Right. Pure Digital Technologies, the creator of the Flip Video line...
Related posts brought to you by Yet Another Related Posts Plugin.