Feeds

Cisco says Tandberg borging underway

Resistance was, indeed, futile

Boost IT visibility and business value

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The networking collective had originally made a $3bn offer to purchase Tandberg on October 1, but a group of shareholders representing 24 per cent of shares held out for more money.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. ®

The essential guide to IT transformation

More from The Register

next story
The Return of BSOD: Does ANYONE trust Microsoft patches?
Sysadmins, you're either fighting fires or seen as incompetents now
Microsoft: Azure isn't ready for biz-critical apps … yet
Microsoft will move its own IT to the cloud to avoid $200m server bill
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
Flash could be CHEAPER than SAS DISK? Come off it, NetApp
Stats analysis reckons we'll hit that point in just three years
Oracle reveals 32-core, 10 BEEELLION-transistor SPARC M7
New chip scales to 1024 cores, 8192 threads 64 TB RAM, at speeds over 3.6GHz
Object storage bods Exablox: RAID is dead, baby. RAID is dead
Bring your own disks to its object appliances
Nimble's latest mutants GORGE themselves on unlucky forerunners
Crossing Sandy Bridges without stopping for breath
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.