Cisco Buys NDS in $5B Deal to Add TV Software |
| BusinessWeek - Mar 15, 2012 |
Cisco Systems Inc. (CSCO), the largest maker of equipment for computer networks, agreed to buy NDS Group Ltd. (NNDS) in a deal valued at about $5 billion to add software used in next-generation video services.
The purchase price includes debt and retention-based incentives, San Jose, California-based Cisco said today. The boards of both companies have approved the transaction, which is subject to regulatory review and will be completed in the second half of 2012, it said.
Cisco Chief Executive Officer John Chambers is working to add more profitable products as part of a turnaround plan. The company had about $46.7 billion in cash and cash equivalents in the U.S. and overseas as of January and has pledged to be aggressive in technology acquisitions. NDS, which makes software for pay-TV channels used by British Sky Broadcasting Corp. and DirecTV (DTV), is co-owned by Rupert Murdoch’s News Corp. and London private-equity firm Permira Advisers LLP.
Read Full Article from BusinessWeek
- Posted: 2012-03-15 11:33:22
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