ARN

Cisco ups offer for videoconferencing firm Tandberg to $US3.4B

The new offer has swayed holders of an additional 30 percent of Tandberg shares

Cisco has raised its bid for Norwegian video conferencing vendor Tandberg to 19 billion Norwegian Kroner ($US3.4 billion), up from $US3.0 billion, but says it will raise its price no further.

The new offer will expire on Dec. 1, and is the final offer Cisco will make, the company said.

The holders of an additional 30 percent of Tandberg's shares have accepted the new offer, taking the number of shares committed to the deal to over 40 percent. However, the companies need the support of holders of 90 percent of the shares for the deal to go through.

Cisco's original offer for Tandberg, made on Oct. 1, was immediately said to be to low by some commentators, and on Oct. 15 a Swedish stockbroker said stockholders representing 24 percent of the shares in Tandberg would not accept the $US3.0 billion offer.

The increased offer shows how important Cisco thinks Tandberg and the video conferencing market is, according to Geir Olsen, President of Europe, Middle East and Africa at Tandberg.

Come socialise with us! Facebook | LinkedIn

More about: Cisco

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
Users posting comments agree to the ARN comments policy.
Login or register to link comments to your user profile, or you may also post a comment without being logged in.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: tandberg, mergers and acquisitions, Cisco
ARN Directory | Distributors relevant to this article
Alloys , Express Data , Express Online , Ingram Micro Australia , Multimedia Technology , Simms International (For Simms International please see Express Online) , Wavelink , Westcon Group , Fusion Power Systems
rhs_login_lockGet exclusive access to ARN's news, research and invitation only events.
ARN Distributor Directory
Find distributors by name | vendor | location
Channel Deals
/deals/synnex/2012-02-09_423_february-march-hot-deal
Synnex

Lenovo February & March Hot Deal

More details »
ARN Vendor Directory
Find vendors by name | category

iAsset is a channel management ecosystem that automates all major aspects of the entire sales,marketing and service process, including data tracking, integrated learning, knowledge management and product lifecycle management.