Cisco Systems closed its acquisition of Tandberg on Monday, formally ending a tense struggle over the fair value of the Norwegian videoconferencing vendor.
The U.S. Department of Justice won't challenge Cisco Systems' US$3 billion acquisition of video-conferencing service provider Tandberg, the agency announced Monday.
After a hard-fought battle, Cisco has won control of video conferencing leader Tandberg with ownership of 91.1% of the company's shares.
Cisco has raised its bid for Norwegian video conferencing vendor Tandberg to 19 billion Norwegian Kroner (US$3.4 billion), up from $3.0 billion, but says it will raise its price no further.
Cisco this week said is extending the acceptance period for its $US3 billion cash offer to acquire Tandberg to Nov. 18. The initial acceptance deadline was Nov. 9.
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