Feeds

Cisco adds half a billion to offer for video firm

Money meet mouth

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Seagate brings out 6TB HDD, did not need NO STEENKIN' SHINGLES
Or helium filling either, according to reports
European Court of Justice rips up Data Retention Directive
Rules 'interfering' measure to be 'invalid'
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Cisco reps flog Whiptail's Invicta arrays against EMC and Pure
Storage reseller report reveals who's selling what
Bored with trading oil and gold? Why not flog some CLOUD servers?
Chicago Mercantile Exchange plans cloud spot exchange
Just what could be inside Dropbox's new 'Home For Life'?
Biz apps, messaging, photos, email, more storage – sorry, did you think there would be cake?
IT bods: How long does it take YOU to train up on new tech?
I'll leave my arrays to do the hard work, if you don't mind
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.