Cisco Buying Flip Video Maker

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Tim Higgins

Pure Digital will become part of Cisco’s Consumer Business Group, which includes Linksys by Cisco products. Pure Digital Chairman and CEO Jonathan Kaplan will become general manager of the combined organization, reporting to Ned Hooper, senior vice president of Cisco’s Corporate Development and Consumer Groups.

Cisco will pay approximately $590 million in stock in exchange for all shares of Pure Digital and will provide up to $15 million in retention-based equity incentives for continuing employees.

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