News Corp
(ASX:NWS) and private equity firm Permira have announced the sale of its video software company NDS Group to Cisco Systems Inc. for approximately $US5 billion.
In a statement, Cisco said "acquiring NDS will broaden Cisco's opportunities in the service provider market, expanding its reach into emerging markets, such as China and India, where NDS has an established customer footprint.”
The acquisition is Cisco’s largest since it bought Norway’s videoconferencing company Tandberg for US$3.3 billion in 2009.
News Corporation reported a net profit of $1.9 billion in the first half of its 2012 financial year.
