Cisco, a leading internet equipment manufacturer, has taken a 3.9% share in Liberate which will give both companies the opportunity to offer networking products that incorporate internet features in a range of media devices.
The investment makes Cisco the third largest investor in Liberate after Oracle Corp. and America Online Inc. which own about 34% and 8% respectively. Before the transaction was made, Cisco and Liberate had already joined forces to offer their combined services to Cable & Wireless Plc and Telewest Communications Plc.
Commenting on the move, Liberate’s senior vice president of corporate development, David Limp, said:
“when we worked together, we found that those customers were able to deploy [the services] more quickly with more interactive features…What Cisco’s investment does is enable us to roll out such features on a worldwide basis at a faster pace”.