Permira has sold video software group NDS to US computer giant Cisco for some $5bn (€4.05bn).
NDS, which offers security and encryption for TV set-top boxes and related support services, is 51 per cent owned by Permira. News Corp holds the rest of the shares. The company, which was previously listed on Nasdaq, was bought by Permira at the start of 2009 for $3.6bn (€2.5bn).
Staines-based NDS will help to accelerate the development of Cisco's Videoscape product, a platform that will enable service providers and media companies to deliver high-tech video entertainment.
As part of the deal, Abe Peled, formerly NDS chairman and chief executive, will become senior vice-president and chief strategist for Cisco's video and collaboration group.
The deal follows shortly after Carlyle led a $100m (€79m) round in US business Avail-TVN to support its acquisition of UK-based video services group On Demand Group, and will be a boon to Permira's fundraising efforts. The firm is thought to be looking to raise €6.5bn.