Cisco Completes Purchase of Selected Assets of Utah Street Networks, Inc.

Mar 06, 2007

Cisco Systems has completed the purchase of select assets of privately-held Utah Street Networks, Inc., the operator of the social networking site Utah Street Networks uses a proprietary software infrastructure to create and maintain online communities on the 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. The Utah Street Networks technology and certain members of team will join CMSG led by Dan Scheinman, SVP and GM. The deal does not include the site, which will remain completely independent of Cisco.