Cisco hires bank to sell home wireless router unit: report
(Reuters) – Networking equipment company Cisco Systems Inc has hired Barclays to sell its Linksys home router unit, a report said on Sunday. The business, which Cisco acquired for $500 million in 2003, will likely be valued for less because it has low margins, according to Bloomberg. The sale is part of Cisco’s strategy to shed its consumer unit and focus on its software and technology services businesses. Last year, Cisco axed its Flip camera business as part of this strategy. (Reporting By Olivia Oran; Editing by Marguerita Choy)
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