October 20, 2011
Cisco Buying Boxborough Firm For $99M
California technology giant Cisco Systems says it will acquire Boxborough-based BNI Video for about $99 million in cash and retention-based incentives.
BNI's products will become part of Cisco's Videoscape TV platform, which allows for the delivery of video to various devices.
BNI was founded in 2009 and is backed by Cisco, cable companies Comcast and Time Warner and venture capital firms Castile Ventures and Charles River Ventures.
Cisco said BNI's employees will join Cisco's Service Provider Video Technology Group. Cisco has major operations in Boxborough.
The acquisition is subject to standard closing conditions, and Cisco says it expects it to be complete by the end of December.
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