Friday, July 24, 2015

Cisco Sells Set Top Box Unit To Technicolor For $600M

Cisco is selling off its set top box unit--Cisco's Connected Devices Division--to Technicolor, in a deal worth approximately $600M, the company said this week. Technicolor and Cisco announced the deal on Wednesday, saying that Technicolor will pay $600M in cash and stock for Cisco's set top box unit, whic provides video and broadband solutions and services. The two said that the Connected Devices business will end fiscal 2015 with revenues of approximately $1.8 billion.