Cisco picks up Scientific Atlanta for $7 billion

scientific atlantaCisco is about to move from the data center into your living room. The company has announced plans to buy set-top box provider Scientific Atlanta for $5.3 billion. Cisco will also acquire Sci Atlanta's cash horde of $1.7 billion, making the final value of the deal about $7 billion. With cable companies increasingly moving into the internet business, the deal positions Cisco to grab a big piece of the market for VoIP hardware, cable modems and related equipment, pitting it against companies like Motorola, which also has a significant set-top and cable-modem business.