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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