Cisco Systems Inc. has acquired NDS, an Israeli video systems company, for $5 billion. The deal was made in cash plus debt assumption. About 51% of NDS is currently owned by private equity company Permira and 49% by News Corp. NDS was trading publicly on the NASDAQ until they went private in 2009. The acquisition price is believed to be 35% higher of what the company was trading for at the time.
NDS was founded in 1988 by several scientists. The company was acquired by News Corp. in 1992 for $15 million and they listed on the Nasdaq in 1999. In 2009, News Corp. teamed up with Premira to buy them out for $3.7 billion. This acquisition further proves how serious Cisco is about the set top box business.