Cisco Systems Inc. CSCO -0.12% said Thursday that it plans to acquire digital-television company NDS Ltd. in a deal valued at roughly $4 billion. Under the terms of the agreement, Cisco will assume about $1 billion of NDS’s debt, bringing the enterprise value of the deal to about $5 billion.
U.K.-based NDS, with more than 5,000 employees, develops software for delivering media content to various devices, including TVs and set-top boxes. It is owned by News Corp NWSA +0.30% . and private-equity firm Permira. The owners had signaled an intention to take the company public late last year, in an initial public offering that was expected in 2012.