This morning, Bloomberg is reporting that Cisco is looking to sell off Linksys, its consumer line of networking gear. Cisco bought the company back in 2003 for $500 million and is now looking to exit the consumer market and sell off the division. If you remember, back in 2009, Cisco bought portable camcorder maker Flip and killed off that division less than two years later.
Cisco is a major player in enterprise networking and even has their own certifications for IT professionals. Instead of introducing their own consumer products, they bought Linksys which was one of the major players along with Netgear, Belkin, D-Link and others.
The firm has reportedly hired Barclays to help find a buyer and the company expects to receive less for the division than what they bought it for in 2003.