Cisco Systems Acquires Tandberg
October 1, 2009
Cisco Systems completed a takeover of Oslo-based videoconferencing vendor Tandberg in a deal valued at about $3.3 billion, gaining control of 91.1% of shares and launching a compulsory acquisition for the remainder. The acquisition expands Cisco's telepresence and videoconferencing portfolio; former Tandberg CEO Fredrik Halvorsen will join Cisco as senior vice president and head of its TelePresence Technology Group.
- Buyers
- Cisco Systems
- Targets
- Tandberg
- Industry
- Telecommunications
- Location
- Oslo, Norway
- Transaction Type
- Buyout
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