Is that deal still happening with SPVSS being sold off, or did they back off a leave Cisco holding the bag?
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It will all come out in the first SEC filing for Cisco after the close, but the purchase price was not the $1 billion continually reported by the press. It was no more than $500 million and with various Cisco commitments in cases of issues like this China approval item and other customer losses or cancellations, it could be lower. Don't be surprised to see a story in 6 months that says overall price paid by Permira was closer to $300 million on a net cash basis. And yes, Permira and Abe did a great job short selling NDS.
The deal is still on. Approval from the Chinese government has taken longer than it should due to US/China trade war. The latest rumour is that the Chinese government has given their approval and the deal will be closed by end of this month.
It would be great if this current situation could remain indefinitely. We benefit from Cisco privileges and we are protected from being LR’ed by Cisco. Once this deal is done then all the old NDS cronies will, once again, have their snouts back in the trough and now they are greedier than ever.
The top brass seems more like a Pvt equity holding company than a tech co. looking for next acquisition with paying customers to use as cash cow for few years, then send it to bangalore to die and move on like locusts to the next crop.
Asset stripping, financial engineering, playing to wall street gallery are core areas than any tech vision
Why would the buyer (who sold NDS to Cisco for $5Billion) back out? They have a $4Billion profit thanks to Cisco's over payment for the company! Think about it, $4,000,000,000 loss and the responsible Cisco executive still has his job... Go figure.