According to multiple sources, Cisco has retained Barclays to explore the possibility of selling off its Linksys brand it purchased in 2003.
Bloomberg is reporting that “people with knowledge of the situation” have said that Cisco is looking to off load the Linksys brand that it acquired back in 2003 for $500 million. The same sources said that it is expected to sell for less at this time as it is considered a mature consumer business and the margins are very low.
Neither Barclays or Cisco or commenting on the rumors at this time which is par for the course in situations such as this.
Should this sale come to be, it would pretty much close the books on Cisco’s forays into the consumer technology market. The company best known for its enterprise hardware already shut down the Flip Camera division in April 2011, and it has eliminated 7,800 jobs so far this year in an effort to cut costs.
No word as of yet as to who might pick up the Linksys brand, but considering its dominance of the home router market, chances are some one will.
Obsessed with Technology, No really it’s pretty Bad….Apple/Google Hybrid loving all types of gadgets, May The Force be with you….