Cisco Exits Cable TV Boxes Amid Web Streaming Shift

By | July 23, 2015

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Cisco Systems (CSCO) exited the cable set-top box market, selling off its home video equipment business at a loss to France-based Technicolor for about $600 million, as more consumers shift to Web streaming devices and services. Cisco acquired the business from Scientific Atlanta in 2005 for $6.9 billion, or $5 billion net of cash. Technicolor will pay Cisco about $450 million in cash and $150 million in stock. Cisco’s exit follows that of Google Scalper1 News

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