Cisco to Acquire Video Surveillance Software Maker BroadWare
SAN JOSE, Calif.
Cisco Systems Inc. announces it will buy privately held BroadWare Technologies, a provider of IP-based video surveillance software.
Financial terms of the agreement were not disclosed.
Founded in 1995, BroadWare has 38 employees, with offices in Santa Clara, Calif., and McLean, Va. BroadWare staffers and products will be integrated into Cisco’s emerging market technologies group.
BroadWare’s software allows users to monitor, manage, record and store audio and video online, and helps customers gain access to live and recorded surveillance video for faster investigation response.
By using the IP network as a platform to converge applications, companies can more readily integrate and synchronize video with other safety and security systems as well as other business tools
The BroadWare acquisition complements Cisco’s existing video surveillance product offering, which provides a migration path from analog surveillance video to a digital network solution.
“Cisco views the video surveillance infrastructure market as an immediate high growth opportunity that requires the ability to support both IP and analog device installations,” says Marthin De Beer, senior vice president of Cisco’s emerging market technologies group.
The transaction is expected to close in Cisco’s fiscal fourth quarter, which ends July 27, subject to customary closing conditions.
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