A few years back, Pure Digital launched The Flip, a handheld digital video camera at a great price — it shook up the marketplace and brought solid videocamera technology to the masses — and even found its way into a few professional productions as well.
This morning, Cisco announced that they had acquired Pure Digital.
The Wall Street Journal has this to say on the deal:
Cisco will pay around $590 million plus up to $15 million in retention bonuses for Pure Digital Technologies Inc., a San Francisco-based company that makes the Flip handheld video camera. Closely held Pure Digital has raised at least $68 million from a number of venture capital firms since its inception, with backers including Sequoia Capital and Benchmark Capital.
The Flip camera has gained popularity because of its small size, ease of use, and low price tag â€“ a standard camera costs less than $200. Cisco said Thursday that Pure Digital has sold more than two million of the devices since introducing the product in May 2007.
The Flip has been a great tool for bloggers, videographers, podcasters, and others who are looking for a slick, affordable, easy to use video camera – even in HD. I expect Cisco to continue to evolve this platform in interesting directions after the acquisition closes later this year.