Thursday, October 1, 2009

Cisco Looks To Buy Tandberg For $3.0 Billion

San Jose-based Cisco said this morning that it has made an offer to buy Norwegian firm Tandberg, in a deal worth $3.0 billion in cash. Cisco is eyeing Tandberg's video communications hardware and related tools, which Cisco said would expand its portfolio of collaboration products. Tandberg manufactures high definition videoconferencing and video products. According to Cisco, the cash tender offer for all outstanding shares of Tandberg is worth 153.5 Norwegian Kroner per share, and 11 percent premium to the previous day closing of Tandberg's stock, and 25.2 percent premium to its three month volume weighted average closig price.