❤️💙💚 39
The End: Cisco Shuts Down Flip, a $590 Million Mistake

Ryan Kim:

Cisco is giving up on its barely two-year-old $590 million purchase of Pure Digital Technologies, announcing today that it is closing its Flip business unit and cutting 550 employees as part of a larger restructuring. The move comes after clear signs that the outsized deal was not paying off for the technology giant, which is in the midst of refocusing its business on its core networking business.

★ Tuesday, 12 April 2011