Reuters: Technology News: Cisco wins EU approval for NDS acquisition

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Cisco wins EU approval for NDS acquisition Jul 24th 2012, 07:23 Tweet Share this Email Print Related News Cisco wins EU approval for NDS acquisition 3:20am EDT EU regulators broaden probe into UPS, TNT deal Fri, Jul 20 2012 EU mergers and takeovers (July 16) Mon, Jul 16 2012 EU set to okay Cisco's $5 billion NDS deal: source Fri, Jul 13 2012 UPDATE 1-EU set to okay Cisco's $5 bln NDS deal - source Fri, Jul 13 2012 Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Media » A pedestrian walks past the Cisco logo at the technology company's campus in San Jose, California February 3, 2010. Credit: Reuters/Robert Galbraith BRUSSELS | Tue Jul 24, 2012 3:23am EDT BRUSSELS (Reuters) - U.S. network equipment maker Cisco (CSCO.O) gained unconditional EU regulatory approval on Tuesday for its $5 billion purchase of TV software developer NDS to reinforce its presence in the video communications market. This will be Cisco's biggest deal after its acquisition of Norwegian conferencing company Tandberg for $3.3 billion in 2009. NDS is 51 percent-owned by private equity fund Permira. PERM.UL The rest is held by News Corp (NWSA.O). Reuters reported on July 13 that the deal would be cleared by the European Commission without any conditions. The European Commission said the deal would not raise competition concerns. "The Commission's investigation confirmed that the merged entity would continue to face competition from a number of strong competitors and that customers, namely pay-TV providers, would continue to have alternative suppliers in all markets concerned," the EU watchdog said in a statement. NDS' other users include BSkyB (BSY.L) and Sky Italia in Europe, and Cablevision Systems Corp (CVC.N), Comcast Corp (CMCSA.O) and Rogers Communications Inc. (RCIb.TO) in North America. NDS' software allows cable and satellite TV companies to deliver encrypted content through televisions and other devices. Cisco's core business is routers and switches that manage Internet traffic. (Reporting by Foo Yun Chee; editing by Barbara Lewis) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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