Cisco Buys Tandberg For $3 billion

Oct 1 2009, 1:41am CDT | by Luigi Lugmayr

Cisco today announced a definitive agreement for Cisco to launch a recommended voluntary cash offer to acquire TANDBERG, a video conferencing gear maker.
TANDBERG, based in Oslo, Norway, and New York, is a global leader in video communications, including a broad range of video endpoint and network infrastructure solutions with intercompany and multi-vendor interoperability.

With this proposed acquisition, Cisco will expand its collaboration portfolio to offer more solutions to a greater number of customers, further accelerating market adoption globally.
Under the terms of the agreement, Cisco will commence a cash tender offer to purchase all the outstanding shares of TANDBERG for 153.5 Norwegian Kroner per share for an aggregate purchase price of approximately $3.0 billion. This represents an 11.0% premium to the previous day closing price of TANDBERG's stock, and a 25.2% premium to the 3-month volume weighted average closing price for TANDBERG's stock.

That is quite interesting that Cisco is able to buy a European company considering the weak Dollar.
More details in this Cisco announcement.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.