Cisco to acquire Flip Video firm

Cisco Systems announced that it will acquire Pure Digital, the developer of the popular Flip Video family of mini-camcorder devices. The announcement comes after the circulation of rumors that Cisco had been eyeing the company, and it will be interesting to see how Cisco leverages its network capabilities to augment future Flip Video devices.

The $590 million stock deal fits into the new profile that Cisco is creating for itself as a consumer technology company. At CES 2009, the network giant announced new consumer home devices with the aim of creating better home networks. Also, despite announcements of lay-offs and cost cuts, Cisco has pledged to return to its past form as a dealmaker, though this time looking at acquisitions of small, promising consumer-oriented firms.

For more:
- The International Herald Tribune has this AP post

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