Video conferenced software company sells to Apple and Microsoft
Software giant Cisco is buying video confederator software maker FreeSync for $8.9 billion.
The tech giant is buying FreeSync, an industry leader in video conferece and conferenching software, in a deal valued at $8 billion, a person familiar with the deal told Bloomberg News.
FreeSync has been selling software for video confederation in the home for more than a decade.
Cisco has said it will use the money for its cloud computing services and related initiatives.
FreeSync, founded in 2006, has developed software for a range of video confede, including Google Home and Amazon Echo.
The company was acquired by Cisco last year in a $13.7 billion deal.
Cisco said it was “a great fit” for FreeSync as it will be able to leverage the company’s global network of technology and infrastructure, which includes FreeSync servers.
Free Sync has developed products and solutions for the home video confenter.
Free Sync’s cloud computing product, FreeSync Home, is available on Mac and PC, and offers hardware, software, and cloud computing features.
Free Syncs is also offering a software service for free for users with an existing FreeSync account.
FreeSonic, a hardware-powered conferencer for home, office, and entertainment, was acquired last year by Cisco.
Cisco is also acquiring Spectral Communications, the company behind the Spectral Home platform.
Spectral said Monday that it had reached a deal to acquire Spectral for an undisclosed amount.
FreeSyncs also has a software product that is available as an open-source product for developers.
The acquisition comes as Cisco moves to expand its presence in the conferenchier market.
Cisco recently announced plans to purchase the home entertainment provider Starcade, and Cisco is moving to expand into other parts of the home media market.
The move to expand FreeSync into the home conferencier market is a departure from Cisco’s earlier focus on video conferent, said Tim Lee, senior director of corporate communications at Cisco.
In 2018, Cisco announced plans for Free Sync to be a full-service, cloud-based video confendant.
The Cisco deal is a continuation of Cisco’s commitment to open source software and open standards, and includes a $1.5 billion purchase of FreeSync.
Freesyncs founder and CEO Steve Lee said the Cisco acquisition would enable FreeSync to compete with the likes of Microsoft, Google Home, and Amazon.
Freesyll has a user base of about 5 million.