Reuters: Private Equity: UPDATE 1-Cisco to buy NDS for $5 bln - reports

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UPDATE 1-Cisco to buy NDS for $5 bln - reports Mar 15th 2012, 11:56 Thu Mar 15, 2012 7:56am EDT TEL AVIV, March 15 (Reuters) - NDS, which develops software for multi-channel television networks, is in advanced talks to be acquired by Cisco Systems for $5 billion, financial newspaper Calcalist reported on Thursday. Founded in Israel in 1988 and headquartered in London, NDS is 51 percent owned by private equity fund Permira and 49 percent by News Corp. It maintains a large research and development centre in Jerusalem. Officials at NDS in Jerusalem could not be reached for comment. The deal's value is about 35 percent higher than NDS's value when it was delisted from the stock exchange in 2009, said Calcalist, one of Israel's top three financial newspapers. Two other Israeli financial newspapers -- Globes and TheMarker -- later reported on their websites that Cisco is expected to announce the deal on Thursday. NDS specialises in the development of interactive systems for secure delivery of entertainment and information to digital TVs, digital set-top boxes, PCs and mobile devices. It also provides electronic security systems for web applications. The company's flagship product is its encryption and conditional access system VideoGuard, which is installed on home TVs via smartcards integrated into set-top boxes. NDS's products are at the heart of News Corp's technological infrastructure - the company's coding system allows it to control the channels provided to each subscriber on multi-channel TV as well as billing. Link this Share this Digg this Email Reprints

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