Connect with us

Hi, what are you looking for?

Cisco

Cisco Acquires Flip Video Maker

558639.jpg

Cisco Announces Intent to Acquire Pure Digital Technologies, Makers of Flip Video™ To Strengthen Its
Consumer Portfolio

Cisco today announced its intent to acquire privately held Pure Digital Technologies Inc. San Francisco-based Pure Digital, creator of the best-selling Flip Video™ brand, is a pioneer in developing consumer-friendly video solutions with mass-market appeal.

“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 vice president of Cisco’s Corporate Development and Consumer Groups. “Pure Digital has revolutionized the way people capture and share video with Flip Video. 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.”

Pure Digital’s Flip Video has sold more than 2 million units and quickly demonstrated market appeal in the United States by making video simple, accessible and fun. All Flip Video products come equipped with FlipShare, a best-in-class software that allows users to easily organize and edit videos and then share them instantly on YouTube, MySpace and other popular sharing Web sites.

“Flip Video puts the power to instantly capture, edit and share video into the hands of everyday consumers,” said Jonathan Kaplan, chairman and CEO of Pure Digital. “By combining forces with Cisco, we join a company that shares our passion for video and whose global scale and tremendous technology expertise we expect will enable us to quickly expand and enrich the Flip Video experience.”

Upon the close of the acquisition, the Pure Digital team will become part of Cisco’s Consumer Business Group, which includes Linksys by Cisco home networking, audio and media-storage products. Kaplan will become general manager of the combined organization, reporting to Hooper.

The Pure Digital acquisition exemplifies Cisco’s “build, buy and partner” innovation strategy to move quickly into new markets and capture key market transitions. Under the terms of the agreement, Cisco will pay approximately $590 million in stock in exchange for all shares of Pure Digital. In addition, Cisco will provide up to $15 million in retention-based equity incentives for continuing employees. The acquisition is subject to various standard closing conditions and is expected to close in the fourth quarter of Cisco’s fiscal year 2009. The acquisition will be accounted for in accordance with generally accepted accounting principles.

Advertisement. Scroll to continue reading.
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Our Reviews

LED TV

The Frame is a head turning 4K QLED TV that hangs on your wall and looks like a piece of artwork.

Bookshelf Speakers

You don't need to speak french to hear how good a pair of $990 bookshelf speakers sound.

NAD Electronics

At $899 the NAD C 588 is an impressive well built turntable that has the ability to hear deep into every recording.

Over-Ear Headphones

Impressive, neutral sounding $500 over-ear headphones should appeal to audiophiles who want to hear everything, not just feel the bass.

Digital Music Systems

Easy to setup and use all-in-one wireless music player combines a stereo integrated amplifier, DAC, streaming player and app for audiophile-grade listening.

HiFiMAN

$349 open-back headphone will amaze first time listeners who have never tried planar magnetic headphones.

You May Also Like

Cisco

Cisco Linksys EA6500 ReviewsFrom Critics Around the Web Cisco Linksys Smart Wi-Fi AC 1750HD Video Pro EA6500 PC Magazine8 years ago

Cisco

Cisco introduced three new Linksys Smart Wi-Fi Routers with app enabled capabilities, plus exceptional wireless performance and maximum throughput. The new routers support Cisco...

Cisco

Cisco introduced its new Linksys E-Series suite of powerful and easy-to-use next-generation Wireless-N routers and switches, available today. The new Linksys E-Series lineup includes...

Cisco

Cisco today unveiled its best-in-class wireless home router — the Linksys E4200 Maximum Performance Dual-Band Wireless-N Router. Designed for optimum home theater performance, the...

Advertisement

ecoustics is the unbiased resource for the latest technology news, coolest gadgets, and best consumer electronics. Plus get product reviews, roundups and deals from all over the web on everything electronic. Read more



Copyright © 1999-2020 ecoustics | Disclaimer: ecoustics may earn a commission when you buy through links on our site.