Despite the gloomy economy, Cisco (NSDQ: CSCO) has decided the timing is take an equity stake in DigitalSmiths, the B2B video tech firm. Details about the amount of the investment and the stake were undisclosed. The deal follows Digitalsmith's $12 million second round, which it secured in November. The Research Triangle Park, N.C-based company provides online video indexing and analytics to web publishers. Digitalsmiths has been working with sites like Time Warner (NYSE: TWX) celebrity news site TMZ, as competition in the space is heating up among rivals such as Brightcove (which previously worked with TMS) and Comcast-owned ThePlatform.
By David Kaplan