Pure Digital Technologies acquired by Cisco

Pure Digital Technologies acquired by Cisco

Cisco has announced that they are acquiring digital camcorder-maker Pure Digital Technologies.

The deal is worth $590 million in stock.

With this, Cisco is aiming to further boost their presence in the consumer products market.

The deal would also see Cisco paying up to $15 million in retention-based incentives to employees who would continue to work in the company.

Cisco representative Ned Hooper spoke about this acquisition deal: “This acquisition will take Cisco’s consumer business to the next level as the company … drives the next generation of entertainment and communication experiences.”

Pure Digital Technologies is the manufacturer of pocket-sized Flip Video camcorders which have become very popular in the market due to their compact size and usability.

Checkout: Pure Digital Technologies