Cisco finally officially announced the intention to buy the Pure Digital Technologies, the creator of Flip video camcorder for the consumer, with a value of 590 million U.S. dollars. This acquisition is a key strategy for Cisco in developing event-enabled home media and capture the market transition to consumer visual networking. Once the Cisco statement.
According to Cisco, Flip Video has the Pure Digital has sold over 2 million units as simple to use, accessible, and also fun. This product comes complete with software that lets users manage and edit video, and share the life-on YouTube, MySpace, and sites for other popular sharing.
If the acquisition is complete, Pure Digital will become part of Cisco Consumer Business Group, the current range of products by Cisco Linksys home networking, audio, and media-storage. Chairman and Pure Digital CEO Jonathan Kaplan will be the general manager of the combined organization, and to report to Ned Hooper, Senior Vice President of corporate development and consumer groups Cisco.
In addition to paying 590 million U.S. dollars to all shareholders Pure Digital, Cisco will also provide incentive-based Retention equity to 15 million U.S. dollars for employees who continue to work. This acquisition is estimated to be completed by the fourth quarter fiscal year 2009 Cisco.
According to Cisco, Flip Video has the Pure Digital has sold over 2 million units as simple to use, accessible, and also fun. This product comes complete with software that lets users manage and edit video, and share the life-on YouTube, MySpace, and sites for other popular sharing.
If the acquisition is complete, Pure Digital will become part of Cisco Consumer Business Group, the current range of products by Cisco Linksys home networking, audio, and media-storage. Chairman and Pure Digital CEO Jonathan Kaplan will be the general manager of the combined organization, and to report to Ned Hooper, Senior Vice President of corporate development and consumer groups Cisco.
In addition to paying 590 million U.S. dollars to all shareholders Pure Digital, Cisco will also provide incentive-based Retention equity to 15 million U.S. dollars for employees who continue to work. This acquisition is estimated to be completed by the fourth quarter fiscal year 2009 Cisco.
