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Permira Funds announces intent to acquire Cisco’s Service Provider Video Software and Solutions business (SPVSS)

This will be positive for our customers, our employees, the SP video business, and Cisco.

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SAN JOSE, CA. – On May 1, 2018, Cisco announced a change in our SP video business strategy, which we believe will be extremely positive for our customers, our employees, the SP video business, and Cisco. Cisco and Permira, a global private equity firm, announced that a company backed by the Permira Funds has entered into a definitive agreement to acquire Cisco’s Service Provider Video Software Solutions (SPVSS) business.

Permira Funds will be acquiring a leading portfolio that spans the video delivery value chain with solutions including Infinite Video Platform, cloud DVR, video processing, video security, video middleware, and services groups. Cisco will retain the video and media technology related to its core business in networking, multi-cloud, security, data, and collaboration.

Cisco remains deeply committed to the service provider industry and on enabling traditional service providers, media and web companies to thrive in the digital age. As a primary Cisco go-to-market channel, service providers are among our most valued business and technology partners. We continue to invest heavily in areas such as networking, 5G, security, optics, software, silicon, and cable access to help service providers reduce cost and complexity, secure their networks, and ultimately grow their revenues.

Given Cisco’s strategy, we believe the SP video group will be most successful as a stand-alone business with corresponding focus, investment and expertise required to grow and win in the marketplace. Following the close of the transaction, the Permira Funds will create a new, rebranded company focused on developing and delivering video solutions for the Pay-TV industry.

We are expecting this transaction to close in Q1 FY19, subject to any regulatory approvals and customary closing conditions.

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Q: What part of Cisco’s business is being divested?
A: 
Cisco is divesting the Service Provider Video Software Solutions (SPVSS) business to Permira Funds, a global private equity firm. SPVSS is a business that is currently one part of the broader Service Provider portfolio under SVP/GM Service Provider Business, Yvette Kanouff.

Permira will be acquiring a leading portfolio that spans the video delivery value chain with solutions including the Infinite Video Platform, cloud DVR, video processing, video security, video middleware, and services groups. Cisco will retain the video and media technology related to its core business in networking, multi-cloud, security, data, and collaboration.

Q: Why did Cisco choose Permira?
A:
The choice of Permira by Cisco was heavily influenced by the beneficial outcome for customers and employees, based on Permira’s understanding of the business and its focus on growth.  We believe this divestiture is positive for all parties. Our goal is to provide a smooth transition for our customers and to provide continued support through this transition.

Q: Why is now the right time for this transaction?
A:
While Cisco has successfully innovated in the video space, built customer momentum and a profitable business, increasing specialization will allow the new company to address future customer requirements while Cisco focuses on its core business. 

Cisco’s strategy is focused on its transformation in building disruptive solutions for networking, multi-cloud, security, data, and collaboration that accelerate our customer’s business outcomes. Cisco remains deeply committed to the service provider industry and on enabling traditional service providers, media and web companies to thrive in the digital age. As a primary Cisco go-to-market channel, service providers are among our valued business and technology partners. We continue to invest heavily in areas such as networking, 5G, security, optics, software, silicon, and cable access to help service providers reduce cost and complexity, secure their networks, and ultimately grow their revenues.

Given Cisco’s strategy, we believe SPVSS will be most successful as a stand-alone business, with corresponding focus, investment and expertise required to grow and win in the marketplace, and now is the right time to make that change.

Cisco Customers and Partners
If you are an existing customer or partner of Cisco and have questions about your product or services, please continue to contact your existing Cisco sales representative.

Any Cisco questions can be directed here.

Cisco customers should continue to use the existing processes and contacts to obtain support or repair on Cisco Service Provider Video Software and Solutions. For more information about opening a technical support case or return for repair processes, refer to Cisco Worldwide Support Contacts.  You will be notified in advance of any changes to support or repair processes.

Better Together


Cisco and Permira are committed to customer success and will ensure a smooth transition for our customers, partners and employees.