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.
Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. Shares of CSCO traded higher by 0.61% or $0.12/share to $19.86. In the past year, the shares have traded as low as $14.96 and as high as $21.30. On average, 39615000 shares of CSCO exchange hands on a given day and today's volume is recorded at 40804836.
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