Cisco's not going away
SAN JOSE, Calif.--Looking to extend its video surveillance offering to distributed site applications, particularly in the public sector, Cisco announced May 21 an agreement to acquire Broadware Technologies, a video surveillance software provider.
The deal is expected to close July 27; terms were not released.
Steve Collen, director of product management for Cisco's Physical Security Group, said this acquisition complements Cisco's March 2006 acquisition of SyPixx, which it purchased for $51 million.
"The overlap between SyPixx and Broadware is minimal, which makes it easier to integrate both into one company," he said. The SyPixx solution is good for "single-site video surveillance solutions such as a casino" while Broadware "delivers a key technology and unique skillset [for] a distributed environment," he said. Target applications include airports, ports, military facilities and other large public sector projects. SyPixx works on a LAN, while Broadware works on a WAN and in wireless environments. Broadware also brings to the deal contacts with integrators such as Lockheed Martin and Northrup Gruman.
Discussion regarding an acquisition in this space started three or four years ago "with a number of companies of which Broadware was one," Collen said. In addition, Cisco made an investment (of an undisclosed amount) in Broadware in March 2005. Broadware is privately held and based near Cisco's campus in Santa Clara, Calif. It also has a sales office outside of Washington, D.C., in McLean, Va.
Bill Stuntz, Broadware's chief executive officer (unable to comment until after closing), and Broadware's 37 employees will join Cisco's Emerging Technologies Group, headed by Marin De Beer.