Technicolor (Euronext Paris:TCH) has completed its previously announced acquisition of Cisco Connected Devices, the Cisco (NASDAQ:CSCO) customer premises equipment (CPE) business, for $600 million in a stock and cash transaction. In parallel, Technicolor is entering into a strategic collaboration agreement with Cisco intended to allow both companies to develop and deliver next generation video and broadband technologies, with cooperation on Internet of Things (IoT) solutions and services.

The integration of the Cisco Connected Devices assets is starting immediately, and the strategic collaboration agreement between Technicolor and Cisco is now moving into the implementation stage.