Cisco sells off STB unit to Technicolor, realigns IoE, cloud activities

Cisco's new CEO Chuck Robbins is wasting no time making his impression on the company by selling off its set-top box business to French media technology conglomerate Technicolor and realigning the company's Internet of Everything (IoE) and cloud activities.

According to a FierceCable report, the sale will create what will be the second biggest CPE company next to the newly combined Arris and Pace, after Cisco and Technicolor gain necessary regulatory approvals. Technicolor's combined unit will control around 15 percent of the market for pay-TV set-top boxes, routers and switches, compared to about 25 percent for Arris-Pace.

In related news, Robbins is going to integrate the Internet of Everything and Cloud activities into Cisco's Engineering organization. The company will also integrate parts of IoE and Cloud services into its services business, and IoE and Cloud sales into the worldwide sales team. Read FierceCable's coverage.

Suggested Articles

lphabet and Google CEO Sundar Pichai announced on Monday that Google plans to invest around $10 billion in India over the next five to seven years.

Hewlett Packard Enterprise (HPE) has juiced its SD-WAN platform by buying Silver Peak for $925 million.

Comcast's investment in the development of artificial intelligence and machine learning paid off in spades during the coronavirus pandemic.