Cisco completes acquisition of NDS Group
SAN JOSE, Calif., (AP) — Cisco Systems Inc. announced Tuesday that it has completed its acquisition of NDS Group Ltd., a digital video technology company.
Cisco, which makes networking gear, values the deal at $5 billion. That figure includes the company's debt.
NDS, based in the United Kingdom, makes software that helps cable and satellite TV companies deliver content to subscribers' digital video recorders, tablets, smart phones and other devices.
San Jose, Calif.-based Cisco said that NDS employees will join Cisco's Service Provider Video Technology Group. The former chairman and CEO of NDS, Dr. Abe Peled, will become senior vice president and chief strategist of Cisco's video group.
Cisco has narrowed its focus in recent years by culling divisions and cutting costs through layoffs. It shuttered its consumer-oriented Flip video camera business last year, but video offerings for businesses have remained a big part of its focus. It acquired Scientific-Atlanta, a maker of TV set-top boxes, in 2006 for $7.1 billion and online conference provider WebEx a year later for $3 billion.
Cisco's shares rose 18 cents to $16.05 in morning trading Tuesday.