Thursday, March 15, 2012

(BN) Cisco Said to Use Cash Held Overseas to Pay for NDS Acquisition

Bloomberg News, sent from my iPhone.

Cisco Said to Use Cash Held Overseas to Pay for NDS Acquisition

March 15 (Bloomberg) -- Cisco Systems Inc. will finance its entire purchase of NDS Group Ltd. with cash held overseas, according to a person with knowledge of the matter.

Cisco said today it agreed to buy NDS in a deal valued at about $5 billion. Bringing overseas cash back to the U.S. would have required San Jose, California-based Cisco to pay taxes. A group of U.S.-based companies, including Cisco, has been lobbying for a repatriation holiday.

A Cisco spokesman declined to comment.

To contact the reporter on this story: Jeffrey McCracken in New York at jmccracken3@bloomberg.net

To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net

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Eugene.

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