Cisco to buy video equipment maker for USD 2.97 billion
Submitted by Sarabjit Heera on Fri, 10/02/2009 - 22:58
Cisco Systems, the world`s major manufacturer of networking equipment has decided to acquire Tandberg ASA for USD 2.97 billion, with the aim to spread out its lineup of video-conferencing products.
The sources informed that the company will pay 153.50 kroner a share in cash.
Tandberg is the World's largest maker of videoconferencing equipment.
As per official sources, the buy out will allow Cisco to speed up its push in the video- conferencing market, where the conglomerate already provides different models of its TelePresence system.
TelePresence -which typically comprises furniture, cameras, as well as giant screens - can transmit life-size images of up to six people.
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