Feeds

Cisco adds half a billion to offer for video firm

Money meet mouth

Providing a secure and efficient Helpdesk

Cisco has increased its offer for Tandberg - despite protesting that its original offer was more than fair.

The networking behemoth seemed shocked when its offer of $3bn for the Norwegian video conferencing firm was not accepted. This valued each share at 153.5 Norwegian Kroner - a 25 per cent premium on the three month average share price.

Today Cisco is offering $3.4bn for Tandberg, or 170 Kroner per share. Two of Tandberg's largest shareholders Folketrygdfondet and OppenheimerFunds have already said they will approve the deal. Combined with shareholders who voted in favour of the first offer, Cisco reckons this gives them over 40 per cent of Tandberg shares.

Tandberg's board of directors has already recommended the deal go ahead. Remaining shareholders have until 1 December to decide to accept or reject the bid.

But Tandberg shareholders were not impressed - less than ten per cent had voted in favour by last week, forcing Cisco to extend the deadline to 18 November.

Meanwhile Cisco was making noises vaguely threatening to cancel the transaction altogether. Its statement today said the new offer "represents Cisco's final price for this transaction".

Cisco is moving quickly from enterprise networking into dozens of other business areas including collaboration products, consumer electronics and video conferencing. ®

Cisco's statement is here. ®

Security for virtualized datacentres

More from The Register

next story
Wanna keep your data for 1,000 YEARS? No? Hard luck, HDS wants you to anyway
Combine Blu-ray and M-DISC and you get this monster
US boffins demo 'twisted radio' mux
OAM takes wireless signals to 32 Gbps
Apple flops out 2FA for iCloud in bid to stop future nude selfie leaks
Millions of 4chan users howl with laughter as Cupertino slams stable door
No biggie: EMC's XtremIO firmware upgrade 'will wipe data'
But it'll have no impact and will be seamless, we're told
Students playing with impressive racks? Yes, it's cluster comp time
The most comprehensive coverage the world has ever seen. Ever
Run little spreadsheet, run! IBM's Watson is coming to gobble you up
Big Blue's big super's big appetite for big data in big clouds for big analytics
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.