Cisco Systems has announced plans to acquire North Carolina-based online video company Inlet for $95 million.
The company, which expects to complete the acquisition in the first half of 2011, plans to integrate Inlet's Adaptive Bit Rate (ABR) online video delivery platforms with its Videoscape TV platform for both enterprise and consumer applications.
With the acquisition, Cisco is aiming to capitalise on the rising demand for video across mobiles, desktops and smart devices on both enterprise and consumer levels.
Enrique Rodriguez, senior vice president and general manager of Cisco's video technology group, said in a statement to IT Pro: “Cisco's Videoscape platform will play a key role in reinventing the TV experience, and the acquisition of Inlet will enable our customers to leverage the network as a platform to deliver innovative video experiences to consumers on any device.”
The acquisition will see Inlet's current workforce joining Cisco in Rodriguez's division, but the company has not yet revealed the future role of current Inlet CEO Don Bossi following its completion.