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Why Cisco is Spending Millions To Upgrade Video Conferencing

December 16, 2015 | Telepresence Options

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Story and images by Jonathan Vanian / Fortune

Cisco is buying a company for $700 million to help with its video conferencing push.

Another day, another multi-million dollar acquisition by Cisco.

On Friday, the networking giant said it will pay $700 million for Acano Limited, a London-based company focused on video conferencing technology.

Over the past few years, Cisco has pushed to build up its video conferencing and work collaboration business through a series of acquisitions. In May, the company said it would buy messaging startup Tropo for an undisclosed amount. In 2014 it bought work collaboration companies Assemblage and in 2013 it purchased Collaborate.com. Financial terms for those deals were not disclosed.

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