Technicolor Completes $600 Million Buy of Cisco Connected Devices
Technicolor completed its acquisition of Cisco’s connected devices operations for $450 million cash and $150 million in newly issued Technicolor shares, Technicolor said in a Friday announcement. The acquisition, announced in late July (see 1507230028), includes a “strategic collaboration agreement”…
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with Cisco that will allow both companies to develop and deliver “next generation video and broadband technologies,” with a special emphasis on IoT “solutions and services,” Technicolor said. In a separate development Friday, Cisco announced plans to acquire Acano, a privately held London-based company that supplies “collaboration infrastructure and conferencing software.” The acquisition will speed Cisco’s “collaboration strategy to deliver video everywhere, providing the best collaboration experience across every endpoint, every screen, every workspace, and to every user," the company said. Terms weren’t disclosed.