News: Technicolor Acquires Cisco’s Division $CSCO

Technicolor announced it has entered into an exclusive agreement with Cisco to acquire our service provider video customer premises equipment (CPE) business for $600 million (or €550 million equivalent) in cash and stock.

This transaction will bring together global leaders in networking, cloud, and the connected home to drive the future success of the service provider video CPE business and both companies’ next generation video strategies:

With a rapidly moving and consolidating market, our shared customers will experience a seamless and smooth transition, and benefit from the continued innovation, focus and support of both companies.

The Connected Devices business’ industry-leading video and modem technologies will allow Technicolor to continue to innovate, deliver scale, and provide enhanced customer service, and Cisco will continue to refocus our investments in service provider video towards cloud and software-based services businesses.

View the full release here.