(Credit:
Pure Digital)
Updated 7:46 AM PT with comments from executives at Cisco and Pure Digital.
Cisco Systems, the world's largest maker of switches and routers that power the Internet, has taken another step toward becoming a major player in the consumer electronics market.
On Thursday the company announced it has acquired Pure Digital Technologies, the maker of the popular Flip Video camcorders. Cisco will pay about $590 million in stock for the company and will also provide about $15 million in retention-based equity as incentives to PureDigital employees, the company said in a statement.
Pure Digital started selling its consumer-friendly mini camcorder in May 2007. The device, which is a little bigger than a deck of cards and has a built-in USB connection, was designed to provide an easy and simple way to take video and upload it to the Internet, especially to popular sharing sites like YouTube and MySpace.
The device, which costs between $100 and $229, depending on the version purchased, has built-in memory storage to take up to 30 minutes or 60 minutes of video. The integrated software also makes the device easy to upload video to PCs or Macs. The product line has grown and now includes the Flip MinoHD, a small high-definition camera. Pure Digital says it has sold more than 2 million total Flip video units since the product first went on sale.
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