Cisco to buy Pure Networks

NEW YORK, July 23 (Reuters) - Cisco Systems Inc (CSCO.O). said on Wednesday it would acquire Pure Networks, a privately held provider of home networking-management software and tools, for $120 million.

Cisco said Seattle-based Pure Networks' home networking-management solution allows users to set up and manage a home network and connect a range of devices, applications and services within the home.

The acquisition is expected to be completed in Cisco's first quarter of fiscal year 2009. (Reporting by Yinka Adegoke; editing by John Wallace)