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VIRTUALISATION Cisco to acquire Tandberg
VIRTUALISATION Cisco to acquire Tandberg | Cisco to acquire Tandberg |
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| by Stuart Corner | |
| Thursday, 01 October 2009 | |
  
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Cisco aims to purchase all the outstanding shares of Tandberg for 153.5 Norwegian Kroner per share, valuing Tandberg at $US3.0 billion, an 11 percent premium. The proposal has the unanimous backing of Tandberg's board of directors. The acquisition is expected to close during the first half of 2010 Cisco plans to integrate Tandberg's video endpoints and network infrastructure products into its collaboration architecture, saying: "This will enable intercompany and multi-vendor interoperability and ease of use across the full product portfolio - from desktop to immersive, multi-screen TelePresence. This interoperability will benefit Cisco's customers, but also competitors and partners by accelerating customer interest in video collaboration globally." Cisco intends to position Tandberg's Norway operations as a European centre of video excellence alongside its service provider video team in Diegem, Belgium. Tandberg's CEO Fredrik Halvorsen will lead the new TelePresence Technology Group, reporting to Marthin De Beer, senior vice president of Cisco's Emerging Technologies Group. Cisco chairman and CEO, John Chambers, said: "Cisco and Tandberg have remarkably similar cultures and a shared vision to change the way the world works through collaboration and video communications technologies. Collaboration is a $34 billion market and is growing rapidly enabled by networked Web 2.0 technologies. This acquisition showcases Cisco's financial strength and ability to quickly capture key market transitions for growth."
This article first appeared in ExchangeDaily, iTWire's daily newsletter for telecommunications professionals. Register here for your free trial.
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