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.

Tags tandbergciscoMergers and acquisitions

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Mikael Ricknäs

IDG News Service

Comments

Comments are now closed.

Most Popular Reviews

Follow Us

Best Deals on GoodGearGuide

Shopping.com

Latest News Articles

Resources

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Latest Jobs

Shopping.com

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?