Mergers and Acquisitions Recap: Washington Post Gets Digg’s TEAM, Cisco’s NDS PURCHASE
The Washington Post (NYSE:WPO) is said to have wound up purchasing Digg’s team for a price of $12 million, as a part of the recent sale of the company, which at one time was an up and coming news-sharing site that could not subsequently compete with Facebook (NASDAQ:FB) and Twitter. At the same time, LinkedIn (NYSE:LNKD) bought 15 of Digg’s patents for between $3.75 million and $4million. The Digg site itself went to the private equity firm Betaworks for between $500,000 and-$725,000.
Don’t Miss: SHOWDOWN: Apple Store vs Microsoft Store.
The European Commission is likely to unconditionally okay Cisco’s (NASDAQ:CSCO) $5 billion purchase of set-top box software company NDS, according to Reuters. NDS is 49 percent owned by News Corp. (NWS, NWSA), is expected to improve the reach of Cisco’s set-top box/cable infrastructure division in emerging markets, and could further reinforce the company’s endeavors to deliver cloud video solutions to the providers of pay-TV.
Don’t Miss: Is News Corp DUMPING This Property?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.