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Cisco Buys Flip-Maker Pure Digital For $590 Million
Networking equipment giant Cisco (NASD: CSCO) announced on Thursday that it will acquire Pure Digital Technologies, maker of the Flip Video line of Web-ready digital camcorders, for $590 million in stock. Cisco will also offer $15 million as incentives for retaining Pure Digital employees. San Francisco-based Pure Digital began selling its camcorders, priced at $100 to $299, in 2007, and has since sold more than 2 million units. more
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