May 22, 2007, 8:30 AM — Cisco Systems Inc. announced an agreement to buy software maker BroadWare Technologies Inc. in a bid to improve its video surveillance offerings, the company said.
BroadWare's software allows users to collect, record, route, view and manage live and stored surveillance video quickly and efficiently over computer networks. Any authorized user on the network can access the video.
The deal highlights the importance Cisco places on the video surveillance and security market as a high growth opportunity, the company said in a statement. Competing in the industry requires that companies be able to provide both IP (Internet Protocol) and analog devices. The BroadWare acquisition is aimed at boosting Cisco's existing video surveillance products.
The acquisition is expected to close by July 27, 2007, the end of Cisco's fiscal fourth quarter. The terms of the deal were not disclosed. The 38 employees at BroadWare's Santa Clara, California and McLean, Virginia offices will be absorbed into Cisco's Emerging Market Technologies Group, the company said.
