With just hours after Cisco announced its plans to lay off 1,300 employees or 2 percent of its global workforces, the company has received (via Reuters) the green signal from European authorities to acquire NDS, the television software developer for $5 billion.
“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,” read a note from Brussels on Tuesday.
Cisco as part of the deal will acquire NDS’s operations in China, France, Israel, India and the UK with the TV software developer 5,000 employees who will join Cisco.
