Cisco has finalised its $5bn purchase of video streaming firm NDS.
The company said that the deal, which was made official Tuesday, would build on its Videoscape brand.
Based out of the UK, NDS develops tools designed to help operators deliver video content to end users for markets such as paid television as well as security tools for video platforms.
The deal, which will see Cisco pay $5bn and absorb some 5,000 NDS employees, was first announced in March of this year. The company hopes that the acquisition will bring it an increased portfolio of offerings for broadcasters and video service providers.
"The video entertainment industry is in the midst of a major market transition with consumers demanding high quality video experiences that are inherently more immersive, engaging, mobile, and social," Cisco senior vice president and general manager of service provider video technology Jesper Andersen said in a blog post.
"This market is expected to continue on a trajectory of dramatic growth, with a four-fold increase in video demand over the next three years according to industry estimates."
The closing of the deal comes as Cisco continues efforts to consolidate and refocus its business around a core of platforms. Earlier this month, that transition included the loss of some 1,300 employees.
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