Frbiz.com Reports Cisco's Acquisition Of 44.5 Million U.s. Dollars Dvn Set-top Box Business

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. signed a definitive agreement to acquire the latter's set-top box business. DVN (Holdings) Limited is a Hong Kong-listed company (hereinafter referred to as "DVN"), major carriers in China, is the digital cable solutions for leading companies. This will further promote Cisco's connected home to achieve its global vision, the two sides shared vision for the future of every family to provide high-performance, scalable, content-rich digital TV interactive platform.

Under the terms of the agreement, Cisco will be no more than 4,450 million U.S. dollars to buy the digital set-top box business heaven and earth. Among them, Cisco will be a one-time payment of approximately 1,750 million U.S. dollars. The maximum volume of the remaining balance of 2,700 million U.S. dollars, Cisco will follow the future of the various stages of completion of sales paid over four years. If you meet the closing conditions as well as through DVN shareholder and regulatory approvals, the acquisition is expected to be completed in the first half of 2010.

In addition, Cisco has also formed a marketing alliance with the DVN in order to give full play to the company's middleware, interactive applications, and system integration and application services market advantage. DVN other business in the future will continue to be by the current CEO, Mr. Lv Pin (Terry Lui) is responsible for leading. Based on the current market is moving from basic digital TV broadcasting towards the direction of the high-end development of interactive applications, this alliance will provide mutual customers a better end to end service.

Cisco's vice president, international cable business unit general manager Ken Klaer, said: "Cisco and DVN has a similar corporate culture, both sides respected the field of innovation in video and believe the family is a multi-media internet development direction of China's future. With this acquisition, we will bring heaven and earth customers digital products with Cisco IP Next-Generation Network (IP NGN) platform, a powerful combination of Cisco will be more actively involved in the world's largest digital TV transition and change into. "

As the world's largest cable TV market, cable users in China reached 160 million, and is expected to develop over the next three to five years to 200 million. At present, one third of the cable users have access to the digital TV platform. By 2015, China's TV market will be fully digital technology, which provides for Cisco's long-term opportunities for development.

DVN Lu Pin, CEO said, "Cisco has the world's leading technology and a wide range of services, combined with DVN's advanced solutions and outstanding talent, will not only conducive to China's TV users continue to enjoy high-quality digital services, and be able to experience in the future world-class technologies. Cisco have a long-term commitment to the Chinese market, we expect the two sides will further deepen co-operation. "

From the acquisition agreement was signed during the completion of the acquisition, Cisco, and Heaven and Earth will continue to operate independently of their digital set-top box business. Pending completion of the acquisition, space digital set-top box business will be incorporated into the leadership of Cisco Klaer carriers Video Technology Group (SPVTG) under the international cable business unit. Under the agreement, the two sides will work together to provide uninterrupted service to set-top box in order to ensure a smooth transition of the business.

DVN-end set-top box way of business has been carried out in the domestic market, the business scope covers design, procurement, logistics to marketing, sales and service. The acquisition is Cisco's expansion in China, an important step, but will also reflect the company's use of local design capabilities and solutions to provide services for emerging markets strategy.

This is Cisco's long-term commitment to the local an important part of that Cisco is committed to developing local talent to actively promote innovation. In April of this year, Cisco in China, launched the "collaborative innovation model", aims to capital, technology, process management, resource hatch, leadership training and other inputs, in order to stimulate local innovation

by: stefasuan

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