Wednesday, July 23, 2008
Pure Networks Acquired By Cisco For $120M
Seattle-based Pure Networks, a developer of home networking management software, has been acquired by Cisco, Cisco said today. Cisco said it would pay $120M to buy Pure Networks, which develops software which is used by consumers to set up and manage their home networking hardware. Pure Networks' software is being used by Cisco's Linksys division under the Linksys Easy Link Advisor software line. Cisco said that Pure Networks will remain in Seattle, as part of its Linksys group, reporting to Linksys SVP and GM Mike Pocock. Pure Networks is venture backed by Bessemer Venture Partners, Ignition Partners, Intel Capital, and Mayfield. The deal is expected to close in the first quarter of Cisco's fiscal 2009 year.