Fried Frank acted as counsel to Permira Funds in its definitive agreement to acquire Cisco's Service Provider Video Software Solutions (SPVSS) business for an undisclosed sum. The new company will encompass a broad portfolio, including Cisco's Infinite Video Platform, cloud digital video recording, video processing, video security, video middleware, and services groups. Cisco will retain the video and media technology related to its core business in networking, multi-cloud, security, data, and collaboration. Following the close of the transaction, the Permira Funds will create a new, rebranded company focused on developing and delivering video solutions for the Pay-TV industry. The transaction is expected to close in Cisco's Q1 FY19, subject to any regulatory approvals and customary closing conditions. It has already been approved by Cisco's Board of Directors.

The Fried Frank team was led by corporate partner Brian T. Mangino and included corporate partners Michael T. Gershberg, Randi Lally, and J. Christian Nahr; antitrust and competition partner Nathaniel L. Asker; executive compensation & ERISA partner Adam Kaminsky; intellectual property and technology partner Amir R. Ghavi; litigation partner Steven M. Witzel; tax partners Alan S. Kaden and Nick Thornton; corporate special counsel Michael Schneider; corporate real estate special counsel Jessica H. Mayes; tax special counsel Will Gay; corporate associates Felycia F. Itza, Thomas C. Katsiotas, Roxanne Lepore, Alison McCormick, Ezra Schneck, and Brian Sullivan; antitrust and competition associate Aleksandr B. Livshits; executive compensation & ERISA associates Maggie A. Kornreich and Samantha Steinfeld Rozell; intellectual property and technology associate Alana Berrocal Rodriguez; litigation associate Shannon N. Doherty; tax associates Thomas Bramall and Shane C. Hoffmann; and corporate law clerk Alyssa Miller.