The margins cisco makes and the resulting hoard they're sitting on means it makes more sense to buy than develop it from scratch. It means kicking out newly cisco rebranded product that much faster for more of that nice fat margin. Which incidentally is micros~1-type obscene. And yeah, they won't mind to kill two birds with one stone.
This deal seems a bit on the ludicrously cheap side, given that this is hardware that can do something very useful, and compared to the multimegabillions paid for weborhea2.0 companies without so much as a revenue model. Cisco can safely be assumed to have the best negotiators money can buy, but even so this seems a tad ridiculous.
Still and all, it isn't as if they didn't warn the world. They did in fact announce they'd exploit the downturn to spend a bit of their stack of sacks of cash and snap up some doohickeys for their stable on the relatively cheap.