Tuesday, August 22, 2006
Cisco Buys Arroyo Video For $92M
San Jose, California-based Cisco has purchased Arroyo Video Solutions, a provider of IP-based video on demand software, for $92M. Arroyo employs 44 in Pleasanton, California and Lindon, Utah. Arroyo develops software for delivering personalized video. Cisco said that it would integrate Arroyo's product portfolio into the firm's Cable & Video Initiatives Group. Joining Cisco with the purchase of Arroyo Video will be Drew Major, one of the original founders of Novell, and Paul Sherer, former CTO at 3Com. Arroyo Video is backed by Comcast Interactive Capital, Doll Capital Management, Foundation Capital, Matrix Partners, and Time Warner Investments, and was founded in 2002.