Now, the company is selling part of that business to one of its previous owners, the private equity firm Permira, as it looks to refocus itself and boost growth in networking, multi-cloud, security, data, and collaboration services. Permira says it is acquiring selected video technology assets, along with other cloud technology services, which it plans to launch as a new, standalone business. The board of Cisco has already approved the deal, and it is expected to close in Q1 of the fiscal year. He said in a statement that the business had been profitable under Cisco.
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Now, the company is selling part of that business to one of its previous owners, the private equity firm Permira, as it looks to refocus itself and boost growth in networking, multi-cloud, security, data, and collaboration services.
Permira says it is acquiring selected video technology assets, along with other cloud technology services, which it plans to launch as a new, standalone business. The board of Cisco has already approved the deal, and it is expected to close in Q1 of the fiscal year.
He said in a statement that the business had been profitable under Cisco. Service providers remain a key customer segment for Cisco, and we look forward to continuing to partner with them to deliver new revenue-generating services and experiences. Terms of the deal are not being disclosed. There have been reports swirling since November that Cisco was looking to divest its Videoscape business and that Permira would be the buyer.
In other words, WebEx and things like that are not a part of this deal. The divestment is key development for Cisco. Across much of , the company reported little growth in its major segments and has more generally been facing a lot of pricing pressure around its hardware and networking businesses.
In that context, the NDS business and related solutions may have been seen by some as legacy assets that needed to be cut away so that Cisco could focus more on trying to grow other parts of its business. Times have moved on, though. The development of cloud-based video and streaming have led to a different class of set-top boxes. And more importantly, a growing number of consumers now choose to bypass traditional PayTV providers altogether, either opting for something like an Apple TV or Amazon Fire TV solution, or going the direct to Internet route and using YouTube and other services.
That also means a lot of pricing pressure for those who are still working with these providers. The theory behind divesting the Cisco assets and rebuilding them is that many of these Pay-TV providers are still very much in business and want to stay that way, so there is an opportunity to both service them as is, but also come up with new products and services to help bring them into the 21st century. Peled in a statement. Cisco has built a profitable business in the video space with innovations to capitalize on IP distribution and cloud-based services.
These combined assets provide a significant new opportunity for the new company. I am thrilled to be working again in this area with Permira who is committed to innovation and support for our Pay-TV customers, and look forward to the ongoing working relationship with Cisco in support of our mutual customers.
Cisco Videoscape Media Suite CMS
Products Confirmed Not Vulnerable No other Cisco products are currently known to be affected by this vulnerability. Workarounds There are no workarounds that address this vulnerability. Fixed Software Cisco has released free software updates that address the vulnerability described in this advisory. Customers may only install and expect support for software versions and feature sets for which they have purchased a license. In most cases this will be a maintenance upgrade to software that was previously purchased. Free security software updates do not entitle customers to a new software license, additional software feature sets, or major revision upgrades. When considering software upgrades, customers are advised to regularly consult the advisories for Cisco products, which are available from the Cisco Security Advisories and Alerts page , to determine exposure and a complete upgrade solution.
These added capabilities will help service providers and media companies enhance agility, increase revenue and reduce operating expenses. With new software and technology for both private and public cloud services, this comprehensive new set of Videoscape cloud capabilities, part of the broader corporate virtualization strategy, will give service providers and media companies the ability to capitalize on the Internet of Everything. Together, they will provide simplified options to quickly deliver new consumer experiences, such as second screen and 4Kvideo, and offer more customization and personalization for viewing and sharing content across multiple devices. New Videoscape Cloud Capabilities Include: Videoscape Cloud Software: Videoscape Cloud Software helps to reduce operating expenses and increase revenue by delivering more experiences, including those based on the IOE, faster than ever before. Videoscape Cloud Software takes Videoscape software, separates it from dedicated hardware and enables it to run on service provider and media company public and private clouds -- including those based on OpenStack. This enables Cisco customers to deploy new video applications on demand, then easily and automatically scale them, shaving months or years off the tasks of planning and deployment.