So Calcalist published this morning. Sorry it's in Hebrew. If you can't 4ead the anguage I am sure Google Translate will oblige. https://m.calcalist.co.il/Article.aspx?guid=3736933
Calcalist normally know about what's happening here a few hours ahead of the announcement so that makes it imminent.
The bit about “false rumours” got deleted. All that stuff about the ex-SeaChange must have been true!
“I am very happy for all parties about this announcement, and I hope you share my enthusiasm for this important change. It is a good day for the Service Provider video business, for our SPVSS employees, for our customers, and for Cisco.”
Yvette: "I am very happy for all parties about today’s announcement, and I hope you share my enthusiasm for this important change. I realize there have been many false rumors around this business for years"
Oh, surely you do not refer to all those nasty false rumors about selling SPVSS to Permira??
Yvette: "I am very happy for all parties about today’s announcement, and I hope you share my enthusiasm for this important change. I realize there have been many false rumors around this business for years"
Cisco press release https://newsroom.cisco.com/press-release-content?type=webcontent&articleId=1919620
YK blog post: https://blogs.cisco.com/news/service-provider-news?_ga=2.214700688.641934579.1525160923-1708252116.1525160923
English translation https://www.calcalistech.com/ctech/articles/0,7340,L-3736952,00.html
Now (1st May) they say it will be announced later today. https://m.calcalist.co.il/Article.aspx?guid=3737139
I can't mention names here, but it's pretty obvious who at least one of the sources is this time around.
How will this affect lwr?
Classy reporting here https://advanced-television.com/2018/04/30/cisco-nearing-video-unit-sale/
what about lwr ?
@hft the buyer is also aware that tech jobs are harder to come by in Jerusalem compared to Tel Aviv or netanya. So most of the employees will still be there, demotivated or not.
This reporter is never wrong and got very reliable resources. He was right every time and it looks like the announcement will be soon.
The buyer is aware that if the employees will not receive the 5 compensation salaries, they will obtain demotivated employees?
The article says that Cisco staff will be numbered 500. It doesn't say that Permira or L&T folks are included, obviously.
You sound like the type of monkey who can't read customer requirements or design documents, which is how we got into this mess in the first place.
will it affect lwr?
Exclusive to Calcalist
The Premira Fund is on its way to re-purchase the NDS at a fifth price
Six years after selling it to Cisco for $ 5 billion, the European investment fund is in talks to buy the battered Jerusalem company for $ 1 billion
06:53
|
Meir Orbach
They say lightning does not hit twice, but it turns out that every rule has an exception. Calcalist has learned that the Permira investment fund is about to acquire NDS from Cisco six years after it sold it . It is estimated that the purchase will amount to hundreds of millions of dollars and may reach up to a billion dollars.
The company bought by Cisco focused on information security for cable and satellite television and is still considered a leader in the field. The company that Pharmira will acquire, if the deal is completed, is very far from the company it sold to Cisco in 2012. NDS was profitable, entering $ 1 billion a year, employing 1,300 workers in Israel and a similar number worldwide. The management of the company was stable with a number of managers who had worked there for years, including Abe Peled, the company's chairman and CEO, Rafi Kesten, who ran the company in Israel, and Yorai Feldman, who managed the company's development. "It is now estimated that Cisco employs approximately 700-800 employees at NDS in Jerusalem.
Since 2012, the giant acquisition has not been able to justify itself for Cisco , and has been perceived by many as too expensive and queer. Cisco CEO and CEO Chuck Robbins is trying to keep his company competitive because networks are moving away from hardware-based activities that once dominated the industry and helped make it one of the largest networks in the world. NDS also introduced Scientific Atlatana, which led the set-top box, but Netflix's entry into the Internet and cable network has made cable and satellite support a burden for the company, generating revenues and profits but not a future based on software, cloud and networks.
NDS employees were not satisfied after the acquisition. Despite the many hopes that were in the acquisition both for the buyer and for the company's employees, waves of layoffs began very quickly, mainly due to Cisco's change of direction, which decided on a new strategy that kept it away from traditional cable or satellite TV, giving priority to the cloud, cyber and communications. These changes made the Jerusalem company into a cash cow, which, according to estimates, was estimated to cost about $ 1 billion a year to Cisco, but no plans were made to develop it further.
If the company is sold, the technology giant from San Jose, California, will remain in Israel with only 500 employees and a much less significant development center than in the past. During their visit to Israel, John Chambers, the former CEO and chairman of Cisco, and Chuck Robbins, CEO and current chairman, also emphasized their commitment to Israel. Towards the global company.
NDS was founded in 1988 by ten scientists from the Weizmann Institute on the basis of advanced encryption technology developed by Israel Prize laureate Prof. Adi Shamir. A decade later the company was sold to Rupert Murdoch for $ 15 million, in 1999 it was floated on Nasdaq for the first time.
sometimes it helps to read carefully.
it says that after the sale Cisco will have just 500 employees in IL.
Don't know how many people still left at JLM site, but article says headcount to be reduced to 500. Looks like anybody left there is not out of the woods yet.
wow!