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Cisco is getting out of the cable set top business. The company announced today that it will be selling its set top box division to French company Technicolor for around $600 million. According to the Technicolor press release, the deal will give the company a 15% share of the global consumer premises equipment market, shipping 60 million devices per year and an installed base of 290 million set-top-boxes and 185 million gateways in over 100 countries.
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"Through this acquisition and strategic agreement, Technicolor can immediately bring its unrivalled experience and innovation in video creation, delivery, and display to more customers in more geographies, while strengthening our position as a technology leader," the company said in a statement.
Cisco is one of several companies that helps build Comcast's X1 set top boxes and is helping the company develop its new "XG2" box. Cisco's also the leading supplier for Charter's HD-DVR 'Worldboxes,' which feature dual IP/QAM capabilities, up to 16 tuners, a DOCSIS 3.0 cable modem, 1 Gig of RAM, high-powered USB to enable future applications, and a terabyte of storage for HD DVR use.
Cisco's exit of the cable set top box market comes as the industry slowly but surely shifts toward more virtual and cloud-based infrastructure and less physical customer-side equipment.
Cisco is getting out of the cable set top business. The company announced today that it will be selling its set top box division to French company Technicolor for around $600 million. According to the Technicolor press release, the deal will give the company a 15% share of the global consumer premises equipment market, shipping 60 million devices per year and an installed base of 290 million set-top-boxes and 185 million gateways in over 100 countries.
Click for full size
"Through this acquisition and strategic agreement, Technicolor can immediately bring its unrivalled experience and innovation in video creation, delivery, and display to more customers in more geographies, while strengthening our position as a technology leader," the company said in a statement.
Cisco is one of several companies that helps build Comcast's X1 set top boxes and is helping the company develop its new "XG2" box. Cisco's also the leading supplier for Charter's HD-DVR 'Worldboxes,' which feature dual IP/QAM capabilities, up to 16 tuners, a DOCSIS 3.0 cable modem, 1 Gig of RAM, high-powered USB to enable future applications, and a terabyte of storage for HD DVR use.
Cisco's exit of the cable set top box market comes as the industry slowly but surely shifts toward more virtual and cloud-based infrastructure and less physical customer-side equipment.
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