Cisco Flips Out
San Jose, Calif.-based Cisco, which has major operations in Boxborough, said today that it will close down its Flip video camera business as part of a broad restructuring that will include the reduction of 550 jobs.
Cisco said it will refocus on its five key business - core routing, switching and services, collaboration, architectures and video - and move away from some of its consumer businesses, including the Flip.
Cisco bought the Flip camera name and technology when it acquired Pure Digital Technology in 2009. At the time, the company heralded the deal as "key to Cisco's strategy to expand its momentum in the media-enabled home and capture the consumer market transition to visual networking."
Cisco predicted that the restructuring would cost the company no more than $300 million. The reduction in head count is expected to come during the fourth quarter of 2011.
WBJ Web Partners
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