The US based electrical manufacturer and designer, Cisco Systems, has come to an agreement with DVN Holdings, a Hong Kong based maker of hardware and software products related to set top boxes and digital video broadcasting.
The deal is said to be worth around $44.5 million, with $17.5 million being paid upfront and the remaining balance to be paid over a number of years, based on performance figures.
Once the deal is completed DVN Holdings will become part of the Cisco Systems service provider video technology group.
This will give Cisco Systems a foothold in the long established production of this technology and equipment.
It will make the company a major player within the industry, despite DVN’s operations being run entirely from China.