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Monday, July 25, 2005
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Cisco Acquires KiSS Technology For $61 Million
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Cisco Systems today announced an agreement to acquire Danish CE manufacturer KiSS Technology in a $61m cash and stock deal.
KiSS develops networked entertainment devices and has a product portfolio that includes home video products such as networked DVD players and networked DVD recorders.
KiSS?s technology platform has the capability to extend to other consumer electronics products and will help Linksys develop a networked entertainment product suite.
This represents Cisco?s second acquisition for its Linksys division, a provider of VoIP, wireless and networking hardware for home, Small Office/Home Office (SOHO) and small business environments.
Under the terms of the agreement, Cisco will pay approximately $61 million in cash and stock in exchange for all shares of KiSS Technology.
?As more and more entertainment content is delivered over the Internet and as consumers demand access to digital entertainment inside and outside of their home networks, networked entertainment devices will become an integral part of Consumer Electronics,? said Charles Giancarlo, Cisco Chief Technology Officer and Cisco-Linksys president. ?KiSS has emerged as a leader in networked video and audio products in Europe and we hope to use that expertise to expand worldwide.?
This acquisition follows Cisco?s core strategy of using acquisitions to build new technologies and speed time-to-market for its products. Linksys is the largest vendor of media adapters that allow users to access music and images stored on a desktop PC on a television through a wireless connection. Such adapters could offer internet television and video on demand services in the future.
Linksys will continue to support and sell KiSS?s existing products in Europe. Over time Linksys also plans to develop a suite of targeted products for other world markets.
KiSS was founded in 1994 and has 65 employees. Upon close of the acquisition, the KiSS team will be integrated into Linksys. |
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