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Cisco Completes Purchase of Selected Assets of Utah Street Networks, Inc.
Cisco Also Completes the Acquisition of Five Across
| Source: Cisco Systems, Inc.
SAN JOSE, CA -- (MARKET WIRE) -- March 5, 2007 -- Cisco Systems® (NASDAQ : CISCO ) today
announced that it has completed the purchase of select assets of
privately-held Utah Street Networks, Inc., the operator of the social
networking site Tribe.net.
Utah Street Networks uses a proprietary software infrastructure to create
and maintain online communities on the Tribe.net website. As part of the
asset purchase, this software will be integrated into the Cisco Media Solutions
Group (CMSG), which is focused on infrastructure products to help
digital media content owners improve the consumer experience. Employees
from Utah Street Networks, Inc. will also be joining Cisco to continue
software development.
Other terms of the deal were not disclosed.
Utah Street Networks was founded in 2003 and has seven employees based in
San Francisco, Calif. The Utah Street Networks technology and certain
members of team will join CMSG led by Dan Scheinman, Senior Vice President
and General Manager. The deal does not include the Tribe.net site, which
will remain completely independent of Cisco.
Cisco also announced the close of the acquisition of Five Across. With the
close of the transaction, the Five Across team and technology now report
into Scheinman.
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