Feeds

Cisco says Tandberg borging underway

Resistance was, indeed, futile

Secure remote control for conventional and virtual desktops

When the Cisco mothership is at your door, you have one of two choices: be assimilated quickly or slowly.

After looming over the Norwegian video conferencing equipment maker Tandberg for the past two months, Cisco Systems said Friday it now has scooped up enough shares and shareholder commitments to take the company over.

Cisco said yesterday that stockholders representing 89 per cent of Tandberg shares had accepted its $3.41bn bid for the company — just shy of the 90 per cent required to squeeze out shareholder holdouts under Norwegian law. But today, Cisco announced that additional shares tendered on November 18 and 20 amount to an extra 2 per cent, for a total of 91.1 per cent of all shares.

The networking collective had originally made a $3bn offer to purchase Tandberg on October 1, but a group of shareholders representing 24 per cent of shares held out for more money. Cisco then sweetened the deal to $3.41bn on November 16. It then extended the takeover deadline and let Tandberg investors sweat it out.

Cisco views the acquisition of Tandberg as paramount to their videoconferencing roadmap by adding a lineup of low-cost products to complement their high priced kit aimed at large businesses.

One more possible hurdle in the Tandberg purchase is an review by US regulators for possible antitrust concerns. Cisco said on Thursday it received a "second request" for information about the deal by the US Justice Department. The company said it will "continue to work cooperative" with the DoJ in its review. ®

Internet Security Threat Report 2014

More from The Register

next story
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
The DRUGSTORES DON'T WORK, CVS makes IT WORSE ... for Apple Pay
Goog Wallet apparently also spurned in NFC lockdown
Cray-cray Met Office spaffs £97m on VERY AVERAGE HPC box
Only 250th most powerful in the world? Bring back Michael Fish
Microsoft brings the CLOUD that GOES ON FOREVER
Sky's the limit with unrestricted space in the cloud
'ANYTHING BUT STABLE' Netflix suffers BIG Europe-wide outage
Friday night LIVE? Nope. The only thing streaming are tears down my face
Google roolz! Nest buys Revolv, KILLS new sales of home hub
Take my temperature, I'm feeling a little bit dizzy
Cisco and friends chase WiFi's searing speeds with new cable standard
Cat 5e and Cat 6 are bottlenecks for WLAN access points
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.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.