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Cisco offer $3.4 billion for video company

Cisco offer $3.4 billion for video company

Tandberg are in demand right now by Cisco who offered a staggering $3bn recently to take over the video conferencing firm. Tandberg’s board of directors turned down the offer with less than 10 percent voting in favour for the buyout.

Today Cisco upped the price to $3.4bn which translates to 170 Kroner per share. Two of Tandberg’s largest shareholders have already made it public that they will approve the deal. When this is combined with the shareholders who have already voted in favour of the first offer this would give Cisco around 42 percent of Tandberg shares.

Tandberg’s board of directors have recommended that this deal go ahead and all that needs to happen now is for the remaining shareholders to accept or refuse the offer – although the vote has to be cast by the 1st of December.

Cisco are best known for their enterprise networking capabilities however they are keen to expand into other marketplaces to increase the value of their company.

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Stuart Davidson

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