Cisco paid approximately $5 billion (€4 billion), including the repayment of debt and retention-based incentives, to acquire all of the business and operations of NDS. The company first announced its intentions to buy NDS, which was part-owned by News Corp, on March 15.
NDS employees will now join Cisco’s Service Provider Video Technology Group (SPVTG), led by senior vice president and general manager Jesper Andersen. Abe Peled, formerly NDS chairman and CEO, becomes senior vice-president and chief strategist for Cisco’s Video and Collaboration Group, of which SPVTG is a part. Peled reports to Marthin De Beer, senior vice-president of Cisco’s Video and Collaboration Group.
“The addition of NDS’ leading software solutions and systems integration expertise play a key role in accelerating the Cisco Videoscape platform aimed at delivering better-than-being-there entertainment experience,” said Anderson. “ Through our combined expertise, we look forward to providing the next-generation TV experience that is more immersive, engaging and social, while helping to create new revenue opportunities for our service provider customers.”
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07 May 2021 @ 18:00:00 UTC