Cisco acquiring Flip Mino Camcorder Company Pure Digital for $590 Million!

Cisco, the company who claims to have lots of cash in times of recession, is proving themselves by announcing that they will be acquiring Pure Digital, the company who makes Flip Mino Camcorders.

“The acquisition of Pure Digital is key to Cisco’s strategy to expand our momentum in the media-enabled home and to capture the consumer market transition to visual networking,” said Ned Hooper, senior vice president of Cisco’s Corporate Development and Consumer Groups. “Pure Digital has revolutionized the way people capture and share video with Flip Video. This acquisition will take Cisco’s consumer business to the next level as the company develops new video capabilities and drives the next generation of entertainment and communication experiences.”

via engadget

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