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Why not?
Don't see this being an issue in any way. Talent is talent, and companies are in need. If you were qualified then, you are more than likely still qualified now
As long as you ended the previous employment agreement on good terms, it shouldn't be any problem.
It's not a bad idea to go back and pursue a position at your previous company IMO. As long as that company has improvedover the years and is good for your career growth.