IoT ‘Strategic Partnership’ Part of $600 Million Technicolor-Cisco Connected Devices Deal

Technicolor’s agreement to buy Cisco’s connected devices business for $450 million cash and $150 million in newly issued Technicolor’s shares includes a “strategic partnership” deal under which the two companies will “develop and deliver” next-generation video and broadband technologies, with an emphasis on IoT “solutions and services,” Technicolor said in a Thursday statement. “By combining their strengths and leading video expertise, from content creation to in-home delivery, the two companies will accelerate innovation and forge a leading entity that network service providers can rely on for their next generation connected home experiences.” Technicolor and Cisco agreed to cross-license patents owned by both companies, it said. Technicolor said its acquisition of Cisco's connected device business is expected to close in late 2015 or early 2016.