Cisco To Enter Into Social Networking

Today Cisco announced plans to enter into the social networking arena.

Reuter’s reports that Cisco has made a bid to purchase social networking software makers Five Apart Inc. a privately held company that has 11 employees and develops software to share video, audio, photo sharing, blogs, podcasts, and profiles. They are based in San Francisco, California.

“Cisco believes the network is the platform for organizations to connect with their constituents and for individuals to connect with each other,” said Dan Scheinman, senior vice president and general manager of the Cisco Media Solutions Group (CMSG). “With the acquisition of Five Across, Cisco is taking an important step towards helping its customers evolve their website experience into something more relevant and valuable to the end-user.”

The deal is expected to close by April 28,2007. No financial details were available, but this move proves that social networking is becoming a more lucrative business.

Popularity: 8% [?]

If you enjoyed this post, subscribe to the Goongee Blog RSS feed! We update everyday about news and people.