Cisco Does Buy Flip Maker Pure Digital For $590 Million
This story was written by Rafat Ali.
Cisco (NSDQ: CSCO) is making an even bigger bet on consumer electronics in a direct way than it has ever done before: it is buying Pure Digital, the maker of the popular Flip video cameras, for about $590 million in an all-stock deal. In addition to the price, Cisco will provide up to $15 million in retention-based equity incentives for the execs and employees that are staying. The acquisition is expected to close in Q4 of this year. More details in release.
By Rafat Ali