Alexa
  • Directory of Taiwan

Cisco agrees to buy Norway's Tandberg for $3 bln

Cisco agrees to buy Norway's Tandberg for $3 bln

Cisco Systems Inc. says it has agreed to buy Tandberg ASA, a Norwegian company that makes hardware for video conferences, for $3 billion.
Cisco, the world's largest maker of computer networking equipment, said Thursday it offered 153.50 kroner ($26.50) per share of Tandberg's stock, an 11 percent premium on Wednesday's closing share price.
Tandberg said in a statement that the proposal was recommended by a unanimous vote of its board of directors. The acquisition is expected to close in the first half of 2010.
The company's shares rose 11 percent to 153.80 kroner ($26.50) in morning trading in Oslo.
Tandberg employs 1,500 people globally, with joint headquarters in Oslo and New York.


Updated : 2021-10-18 07:00 GMT+08:00