Thursday, March 19, 2009

Cisco Buys Pure Digital

San Jose-based Cisco Systems announced this morning that the firm is buying Pure Digital, the San Francisco-based maker of the popular "Flip" video camera. According to Cisco, it will pay $590 million in stock for Pure Digital. Cisco said it will also provide $15 million in retention-based equity incentives for continuing employees. The firm explained that the buy is part of a strategy to take its consumer business "to the next level." Pure Digital will become part of Cisco's Consumer Business Group.