A Travers Smith team led by Russell Warren (tax partner), Will Howard (senior corporate associate) and Chris Hale (Head of Corporate) have advised NDS Group Limited in relation to its senior management team´s position on its US$5 billion sale to Cisco Systems.  The acquisition is expected to close during the second half of calendar year 2012, subject to customary closing conditions, including regulatory review in the United States and elsewhere.

 

Commenting on the deal NDS Executive Chairman Dr. Abe Peled stated “Cisco and NDS are helping drive the transition that will enable service providers and media companies to offer new revenue-generating video experiences. NDS’s open software video platform and services are highly complementary to Cisco technology, and together we are uniquely positioned to enable service providers to deliver fresh and exciting multi-screen video services to their customers.” 

 

Travers Smith has a longstanding association with NDS having advised management on the £3.6bn take private from NASDAQ in 2008. The Travers Smith team also comprised tax associate Madeline Gowlett, employee incentives associate Chris Fallon, employment associate Glendon Salter and pensions associate Dan Naylor.  

 

NDS Group´s institutional shareholders News International and Permira were advised by Skadden Arps and Clifford Chance respectively.  Cisco Systems were advised by Fenwick & West LLP.