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Cisco says it will buy ExtendMedia

Thu, 08/26/2010 - 2:06pm
The Associated Press

Cisco Systems Inc. said Thursday it plans to buy privately held ExtendMedia Corp., which makes software to help companies manage and earn money from video delivered to computers, televisions and mobile devices.

Financial terms were not disclosed.

Cisco, best known for networking routers and switches, said owning ExtendMedia will help it deliver video over the Internet as consumers come to expect video on a variety of devices.

In recent years, Cisco has bought dozens of companies, including makers of TV set-top boxes and cameras that people use to share videos on social websites.

Cisco shares fell 51 cents, or 2.4 percent, to close at $20.70.

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