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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

Cisco hp — Photographer: David Paul Morris/Bloomberg

By

Giles Turner and

May 1, 2018, 8:10 AM UTCUpdated onMay 1, 2018, 9:35 AM UTC

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.