SAN JOSE, Calif. (AP) — Cisco Systems Inc., the world's largest maker of networking gear, said Monday it completed its acquisition of privately-held Inlet Technologies for $95 million.
Raleigh, N.C.-based Inlet provides digital media processing platforms. Inlet's technology, which is used in streaming multimedia, adapts the quality of the video stream in real time based on network demand.
Its acquisition will strengthen the capabilities of Cisco's Videoscape TV platform, allowing service and content providers to deliver video to any device over any Internet-based network. Cisco Videoscape combines digital TV and online content with social media for home and mobile video entertainment devices.
With the close of the acquisition, Inlet employees become part of Cisco's Service Provider Video Technology Group.
San Jose, Calif.-based Cisco shares fell 10 cents to close at $17.85.