WASHINGTON (Reuters) - Cisco Systems (CSCO.O) has won U.S. antitrust approval to buy Flip Video digital camcorder maker Pure Digital Technologies, the Federal Trade Commission said on Wednesday.
The $590 million purchase, all in stock, is part of Cisco’s move into the consumer market as its traditional routers and switches business slows down.
The FTC made the announcement in a listing of approved deals that it puts out several times a week.
Pure Digital’s pocket-sized Flip Video camcorders, which let people quickly make and share videos on the Web, have generated sales of more than 2 million units so far, Cisco said in mid-March.
Flip Video comes with software called FlipShare, which helps users easily move videos to online sharing sites.
Reporting by Diane Bartz; Editing by Lisa Von Ahn