SAN JOSE, Calif., SHANGHAI and HONG KONG, May 5, 2010 Cisco (NASDAQ: CSCO) today announced it has completed its acquisition of the set-top box business of DVN (Holdings) Limited (SEHK: 0500). Listed in Hong Kong with major operations in China, DVN is a market and technology leader in digital cable solutions in China and shares Cisco's vision of a high-performance, scalable and services-rich cable interactive platform extending into every home.
The newly-acquired business will run entirely from within China from design, sourcing and logistics through to marketing, sales and service. The acquisition will enable Cisco to offer customers in China an end-to-end solution, including DVN's set-top box products and the Cisco® IP Next-Generation Network (IP NGN) platform.
With the completion of the transaction today, the DVN set-top box business is now part of the International Cable Business Unit (ICBU) within the Service Provider Video Technology Group (SPVTG) at Cisco.