Cisco to acquire Pure Networks for $120 million
Acquisition of Seattle-based Pure Networks is expected to be complete by first quarter of 2009.
Cisco has announced that it intends to purchase Pure Networks, a Seattle-based company that specializes in home networking-management software and tools.
Expected to be complete by the first quarter of 2009, the acquisition will see Cisco paying approximately $120 million in exchange for all shares of Pure Networks.
Pure Networks' home networking-management solution allows users to easily set up and manage a home network and connect a range of devices, applications and services within a home.
The acquisition of Pure Networks will provide Cisco with a fully integrated home networking-management solution that will also serve as the foundation for the development of new applications, tools and capabilities for consumers to use in an increasingly ‘connected life' at home, at work and on the go.
"With the rapid proliferation of networking technology and new consumer electronics devices, the ability to quickly and easily connect to a range of devices, content and services throughout the home is becoming paramount to achieving a satisfying consumer experience," said Ned Hooper, senior vice president for Cisco's Corporate Development and Consumer Group. "Pure Networks' network-management innovations will provide Cisco and Linksys with a key underpinning to take home networking to the next level of ease of use."
Pure Network currently partners with Cisco to provide the software infrastructure and tools used to create the Linksys Easy Link Advisor (LELA) which allows a consumer to more easily set up, organize, manage, secure and use a home network.
Once the acquisition is complete, Pure Networks' employees are expected to remain in Seattle and be integrated into Linksys, under Mike Pocock, senior vice president and general manager of Linksys.