San Jose-Based Cisco to Acquire Pleasanton's Arroyo Video Solutions

San Jose, Calif. -- Cisco Systems, the San Jose-based networking equipment giant, said on Tuesday that it will pay $92 million in cash to acquire Pleasanton-based Arroyo Video Solutions, developer of a platform for on-demand television and related consumer services. Cisco said that integrating its architectural framework with Arroyo's platform will help carriers accelerate the creation and distribution of network delivered entertainment, interactive media and advertising services. Arroyo has 44 employees, including Drew Major, an original founder of Novell, and Paul Sherer, the former CTO at 3Com. The deal is expected to close by the end of October, when Arroyo will become part of Cisco's Cable & Video Initiatives Group.
http://newsroom.cisco.com/dlls/2006/corp_082106.html