Cisco has completed the acquisition of Pure Digital Technologies, a San Francisco-based creator of Flip Video brand of consumer camcorders.
Pure Digital team becomes part of Cisco’s Consumer Business Group which includes Linksys, Cisco’s home networking, audio and media-storage products.
The company said that the acquisition would take its consumer business to the next level as it develops new video capabilities and drives the next generation of entertainment and communication experiences.
Jonathan Kaplan, chairman and CEO of Pure Digital, said: “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.”
Earlier on March 19, 2009, Cisco announced its intent to acquire Pure Digital Technologies for approximately $590m in stock. The company further added that it would also provide Pure Digital up to $15m in retention-based equity incentives for continuing employees.