Cisco Sheds Set-Top Unit

Cisco Systems is getting out of the set-top business.

Almost ten years after entering the STB biz via its $6.9 billion acquisition of Scientific-Atlanta, Cisco has entered a deal to sell its customer premises equipment business to Paris-based Technicolor for $600 million ($450 million in cash and $150 million in stock).

The deal, which also covers DOCSIS cable modems and gateways, marks another big round of consolidation in the tough set-top sector, following Arris’ proposed $2.1 billion merger with U.K.-based set-top maker Pace Plc., and, on a smaller scale, Amino Technology’s just-announced $73 million purchase of Entone Technologies.

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(Photo via Prayitno's FlickrImage taken on July 23, 2015 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)