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Cisco Sells Declining Video Software Business

Cisco Sells Declining Video Software Business

In May, Cisco Systems (CSCO) agreed to a deal to sell its service provider video software business, part of a unit in which revenue has been shrinking. Revenue in Cisco’s Other Products segment, which includes its video software business, fell 6.0% YoY (year-over-year) to $249 million in its fiscal third quarter, which ended in April. Cisco sold its video software business to Permira, the same private equity company that sold the business to Cisco six years ago.