Acquisition Supports Cisco's Videoscape Strategy
SAN JOSE, Calif. – March 14, 2011 – Cisco today announced it has completed its acquisition of privately-held Inlet Technologies, a leading provider of Adaptive Bit Rate (ABR) digital media processing platforms. Based in Raleigh, N.C., Inlet strengthens the capabilities of Cisco's Videoscape TV platform, allowing service and content providers to deliver compelling video experiences to any device over any Internet Protocol (IP) network.
Cisco Videoscape is a comprehensive TV platform for service providers that brings together digital TV and online content with social media and communications applications to create a truly immersive home and mobile video entertainment experience. Inlet's advanced ABR technology, which is used in streaming multimedia over managed and unmanaged networks, adapts the quality of the video stream based on real-time network conditions.
Inlet brings to Cisco a strong team that understands the complexities of delivering ABR video over IP networks to any device. With the close of the acquisition, Inlet employees become part of Cisco's Service Provider Video Technology Group.
Under the terms of the agreement, Cisco paid approximately $95 million in cash and retention-based incentives in exchange for all shares of Inlet.
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This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including the expected benefits to Cisco and its customers from completing the acquisition and plans regarding Inlet personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, the potential impact on the business of Inlet due to the uncertainty about the acquisition, the retention of employees of Inlet and the ability of Cisco to successfully integrate Inlet and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.