Cisco has announced it is acquiring social network builder, Five Across. The San Francisco-based company was founded in 2003, raised $2 million from Granite Ventures and Adobe Ventures in 2004 and have 11 staff.
Five Across has a social networking platform called the Connect Community Builder, which empowers companies to easily augment their websites with full-featured communities and user-generated content. In essence, they provide socnet functions to websites.
Dan Scheinman, Senior VP and GM of the Cisco Media Solutions Group sees this acquisition as an important step towards Cisco being positioned to assist its customers “evolve their website experience into something more relevant and valuable to the end-user.”
Cisco seems to have woken up to the fact that networking is not all pipes and plumbing. The people factor is the X-factor. In fact, check out their tagline: Cisco is the worldwide leader in networking that transforms how people connect, communicate and collaborate.
I suspect we’ll be hearing about more acquisitions in the social media space from these guys.