Bloomberg reports that that Cisco is
preparing to sell Linksys, the router company it bought for $500 million in
2003. Cisco is the world's largest manufacturer of computer network equipment,
but has been steadily attempting to divest itself of its consumer businesses;
it killed Flip just two years after acquiring the pocket camcorder maker in
2009. The company is said to be soliciting TV manufacturers who may be
interested in Linksys' established brand and technology.
Bloomberg's sources say that Cisco has hired Barclays to
help find a buyer for Linksys — reportedly the same financial firm helping Google
sell Motorola's set-top box business — but the company expects to
receive much less than it paid nearly a decade ago. While Flip never really
made sense for such an enterprise-focused corporation, it's striking that Cisco
was seemingly unable to find enough synergy with a company that operated in a
similar space.
Source The Verge
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