Thursday, March 19, 2009
Flip Flips to Cisco for $590 Million in Stock (Plus the Press Release)
Pure Digital, the maker of the popular Flip digital video cameras, has sold itself to Cisco (CSCO) for $590 million in stock.
The deal, which had been rumored last week, was announced this morning by Cisco.
The simplicity of Pure Digital’s line of relatively inexpensive cameras has made it a huge consumer success, which is no easy task in the devices arena.
And Cisco has been trying to turbocharge its consumer-focused business and the move is a clear step in that direction.
