Cisco Systems has agreed to acquire privately-held Arroyo Video Solutions Inc., a provider of on-demand television for USD 92 million in cash to extend its presence in the consumer entertainment market.
Cisco said the integration of the Arroyo platform into the Cisco IP-NGN architectural framework would help enable carriers to accelerate the creation and distribution of network delivered entertainment, interactive media and advertising services across the growing portfolio of televisions, personal computers, mobile handsets and emerging media capable devices.
Cisco’s core business is providing network gear for business and telecommunications companies, but it has expanded into the consumer market with its acquisition of wireless home router maker Linksys in February 2003.
"The entertainment industry is going through a major shift while consumer desire for personalized on-demand service is on the rise. The industry is quickly evolving from pure video-on demand to anything-on-demand with any content delivered to any end device. Cisco's next generation network strategy offers service providers the ability to make this vision a reality," said Michelangelo Volpi, Cisco senior vice president and general manager, routing and service provider technology group.
The acquisition is due to close in Cisco's first quarter of fiscal year 2007, which ends in late October, the company said.
Arroyo was founded in 2002 and has 44 employees based in California and Utah.
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