Cisco Systems to buy out a social networking website.

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Click here to read the full story >> Networking and communications technology giant Cisco Systems will acquire the technology asset of Tribe.net, which is a social networking website that is lost and forgotten in the jungles of the Internet. The announcement was made by individuals close to the company.

The deal will allow Cisco Systems to gain a technology with the help of which several large companies will be able to develop MySpace or YouTube - like services. This will allow bringing their clients together on-line. The deal is considered unusual since it is rather odd to see a company with about 38,000 employees that provides networking equipment for big enterprises to buy Tribe.net, which is owned by a company of eight employees.

Tribe.net has been pushed aside by such giants like MySpace and Facebook.If Cisco acquires Tribe.net it will continue its way to become a consumer-oriented company. The company looks further to the days when consumers spend most of their time in on-line communities.

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