Cisco buying maker of Flip Video camera?
Reports say the tech giant will acquire Pure Digital for more than $500 million.
Pure Digital, maker of the popular Flip Video camera, is reportedly nearing a deal to be acquired by Cisco, according to a report in TechCrunch.
TechCrunch cites several anonymous sources saying that San Francisco-based Pure Digital is considering a sale. Another source says the Cisco sale "is a done deal," and puts the price tag at "north of $500 million."
Pure Digital CEO Jonathan Kaplan wasn't available for comment.
Pure Digital had been in the business of making one-time-use cameras for about five years before it hit the jackpot with its Flip Video, a small, flash-based video camera that allows easy uploads of videos directly to YouTube and other online video sites.
The Flip Video went from basically nothing to grabbing an outsize chunk of the video camera market in two years, inspiring more established electronics brands like Kodak and Sony to follow suit with their own small video cameras.
Pure Digital has discussed possible sale at least once before. CNET News reported in January that--but balked at the price--before developing its own Webbie HD camera.