Cisco Systems bought selected assets of Utah Street Networks, a seven-person San Francisco company founded in 2003, and in this way effectively continues to buy its way into social networking. The San Jose, California-based company did not reveal the terms of the completed deal. The company did note, however, that it will receive a proprietary software infrastructure that Utah Street has used to create and maintain online communities on Tribe.net. The dominant networking vendor will integrate that software into its Cisco Media Solutions Group (CMSG), and certain Utah Street employees will join that team to continue software development. Nevertheless, Cisco did not directly acquire Tribe.net, Utah Streets social-networking site that has been overshadowed by the success of big names such as Friendster, Facebook, and MySpace.
News source: InfoWorld