Cisco to buy home networking firm for $120 million

Research Triangle Park, N.C. — Networking giant Cisco (Nasdaq: CSCO) is buying Pure Networks, a developer of home networking technology, for $120 million.

Pure Networks is based in Seattle, Wash.

Cisco and Pure Networks already work together for software and tools utilized in a Linksys home networking product. Linksys is part of Cisco.

"With the rapid proliferation of networking technology and new consumer electronics devices, the ability to quickly and easily connect to a range of devices, content and services throughout the home is becoming paramount to achieving a satisfying consumer experience," said Ned Hooper, senior vice president for Cisco's Corporate Development and Consumer Group, ina statement. "Pure Networks' network-management innovations will provide Cisco and Linksys with a key underpinning to take home networking to the next level of ease of use."

Cisco, which is based in California, employs more than 2,000 people at its campus in RTP.