Cisco, not Adobe acquires FiveAcross?

Cisco buys Five Across, and enters Social Networking. Much as I applauded their previous purchase, Scientific Atlanta, which, judging by the recent earnings reports, is paying off, this one seems to be a frowning moment.

That said, I like the FiveAcross value proposition a great deal. I wrote this piece called Media Shuffles back in October, and covered players like Five Across and GoingOn. (Others in the category are iUpload and Pluck.) For them, being inside Cisco’s umbrella would be a big benefit, and they should be able to convince some major media players (Business Week, WSJ, NYT, Merc, Economist, Post …) to create user generated content networks around their brands using its capabilities.

I had pegged this as an Adobe acquisition though, and am blindsided by Cisco picking them up. I also think, Adobe goofed up again!