Cisco To Pay $95 Million For Inlet Technologies

SAN JOSE, Calif. (AP) - Network equipment maker Cisco Systems Inc. said Friday it has agreed to pay $95 million in cash for Inlet Technologies, a company that provides technology for delivering video over the Web.

Cisco said the deal will help improve its "Videoscape" service, which allows customers to watch video on mobile gadgets such as smart phones and laptops along with their TVs.

Inlet is privately held and based in Raleigh, N.C.

Cisco expects to close the deal in the first half of the year.