Cisco Systems, Inc. Announces Intent To Acquire BNI Video

Cisco Systems, Inc. announced its intent to acquire privately-held BNI Video. Headquartered in Boxborough, Mass., BNI Video supplies service providers with two video products that offer video back-office and content delivery network (CDN) analytic capabilities. Upon the close of the acquisition, BNI Video employees will be integrated into Cisco's Service Provider Video Technology Group. Under the terms of the agreement, Cisco will pay approximately $99 million in cash and retention-based incentives in exchange for all shares of BNI Video. The acquisition is subject to various standard closing conditions and is expected to be complete in the second quarter of Cisco's fiscal year 2012.