Cisco Purchases Pure Digital for $590 Million in Stock
A while ago we told you that Cisco is considering purchasing the maker of that very popular Flip Video camcorder, Pure Digital. And Cisco has publicly announced its intentions of purchasing Pure Digital for $590 million in stock.
Ned Hooper, senior vice president of Cisco’s Corporate Development and Consumer Groups said that:
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.
What will Cisco make out of the Flip Video camcorder? We’ll see more in Q4 of 2009 when the deal will be finalized.
via Cisco
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