Cisco to Acquire Norway’s Tandberg for $2.97 Billion |
| Bloomberg - Oct 1, 2009 |
Cisco Systems Inc., the world’s largest maker of networking equipment, agreed to buy Tandberg ASA for 17.2 billion kroner ($2.97 billion), to expand its lineup of videoconferencing products.
Cisco will pay 153.50 kroner a share in cash, Lysaker, Norway-based Tandberg said today in a statement. That’s 11 percent more than Tandberg’s closing price in Oslo trading yesterday. Tandberg is the world’s largest maker of videoconferencing equipment.
The purchase, Cisco’s first acquisition of a public company outside the U.S., accelerates its push in the videoconferencing market, where the company already offers different versions of its TelePresence system. TelePresence -- which typically includes furniture, cameras, and giant screens -- can transmit life-size images of up to six people. Some systems may cost $299,000 or more, depending on the configuration.
Read Full Article from Bloomberg
- Posted: 2009-10-01 12:37:40
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
