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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