Rumored sale part of Cisco’s shift away from consumer business.
According to a report by Bloomberg, networking giant Cisco might be looking to sell off its recently acquired Linksys division. Sources say that Cisco has hired Barclays Plc to find a buyer for Linksys, the division of the company that makes wireless networking products for home use.
Cisco has slowly begun to drift away from the consumer business, firstly shutting down its Flip operations and then culling over 7,000 jobs last year. Cisco purchased Linksys back in 2003 for a tidy sum of $500 million, but it’s not clear yet who would be interested in snatching it up. The company has always been a strong contender for enterprise-level networking, but has made little progress in securing a footing in the consumer market.
Cisco have yet to provide an official statement on the rumor.