Cisco completes NDS deal
July 31, 2012 16.08 Europe/London By Chris Dziadul
Cisco has announced that it has completed the acquisition of the NDS Group.
With the closure of the transaction, which was first announced on March 15 and is worth around $5 billion (€4.07 billion), Dr Abe Peled, formerly NDS chairman and CEO, has now become senior VP and chief strategist for Cisco’s Video and Collaboration Group, of which Cisco’s Service Provider Video Technology Group (SPVTG) is a part.
He will report to Marthin de Beer, senior VP of Cisco’s Video and Collaboration Group.
Commenting on the closure of the deal, Jesper Anderson, senior VP and general manager, Service Provider Video Technology Group, said: “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 experiences. 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.”