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Permira Buys Back Cisco Video Business For $1 Billion

  • Cisco bought NDS Group from Permira in 2012 for $5 billion
  • Cisco is shifting away from tech such as satellite boxes
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Photographer: David Paul Morris/Bloomberg

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Five years after selling a video-software business to Cisco Systems Inc. for $5 billion, private equity firm Permira has agreed to repurchase it back for a fifth of the price.

Permira is buying Cisco’s video software business -- formerly known as the NDS Group -- in a bid to create a new standalone company, according to a statement Tuesday.