Feeds

Cisco adds half a billion to offer for video firm

Money meet mouth

Top 5 reasons to deploy VMware with Tegile

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. ®

Beginner's guide to SSL certificates

More from The Register

next story
It's Big, it's Blue... it's simply FABLESS! IBM's chip-free future
Or why the reversal of globalisation ain't gonna 'appen
'Hmm, why CAN'T I run a water pipe through that rack of media servers?'
Leaving Las Vegas for Armenia kludging and Dubai dune bashing
Microsoft and Dell’s cloud in a box: Instant Azure for the data centre
A less painful way to run Microsoft’s private cloud
Facebook slurps 'paste sites' for STOLEN passwords, sprinkles on hash and salt
Zuck's ad empire DOESN'T see details in plain text. Phew!
CAGE MATCH: Microsoft, Dell open co-located bit barns in Oz
Whole new species of XaaS spawning in the antipodes
AWS pulls desktop-as-a-service from the PC
Support for PCoIP protocol means zero clients can run cloudy desktops
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.