Cisco reportedly hires Barclays to find buyer for LinksysDecember 17, 2012 - 10:31 AMT PanARMENIAN.Net - Cisco Systems Inc., the largest maker of equipment for computer networks, has hired Barclays Plc to find a buyer for Linksys, which makes routers for home wireless access, Bloomberg reports citing people with knowledge of the situation. The unit may attract the interest of TV set makers seeking a recognized brand and technology, said the people, who asked not to be identified because the process isn’t public. Linksys is likely to fetch much less than the $500 million Cisco paid for it in 2003 because it is a mature consumer business with low margins, the people said. Cisco wants to sell Linksys as part of its strategy to exit consumer businesses while expanding in corporate software and technology services. Chief Executive Officer John Chambers eliminated 7,800 jobs over the past year and closed businesses such as the Flip video-camera unit amid a slowdown in sales growth after a foray into consumer technologies backfired. In addition to Linksys, Cisco also operates in the home market with its Scientific Atlanta set-top-box unit and with NDS Group Ltd., a software maker for paid-television channels used by British Sky Broadcasting Group, Canal Plus and DirecTV. Cisco bought NDS in July for $5 billion. Barclays is also advising Google Inc. on the sale of its Motorola Home Business, which sells set-top-boxes and equipment to cable-television-providers. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Ameriabank's Trade Finance portfolio enriched with four prestigious awards from EBRD and IFC Ameriabank received the awards from international financial institutions in recognition of its trade finance operations. Armenian Economy Minister to make trip to UAE May 20-22 A delegation led by Minister of Economy Gevorg Papoyan will travel to the UAE capital of Abu Dhabi on May 20-22 Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. |