Cisco’s plan for NDS to deliver riches from large IPTV networks on the back of pay TV deals proved to be a bit of a dud, but if one thing has become crystal clear over the years, it is that Cisco is a connoisseur of acquisitions. Reports leaked this week that the company is seeking a buyer for its NDS unit, which is worth significantly less today than its $5 billion price tag in 2012, but we should not jump to the conclusion that a sale would mean Cisco losing the customer relationships it won through NDS – deals arguably worth more to Cisco in the long term. We believe NDS’ current valuation could be as low as under $300…