Cisco Looking to Sell Linksys
One of the leaders in all things networking is set to sell off its consumer networking division, at least according to a report. Cisco has hired Barclays Plc to find a buyer for Linksys, which would just be the latest part in a nearly two year restructuring plan. Last year the company shut down the Flip camera business and integrated the Umi personal teleconference technology into the larger TelePresence division. Once Linksys is sold off, Cisco will have reduced its consumer holdings substantially. It'll still have some consumer devices, just not the well-known Linksys name. As for Linksys, well, Cisco originally bought the company back in 2003 for about $500 million to help expand its consumer reach. Unfortunately it was never quite as profitable as Cisco hoped, though maybe a new buyer can change that.