Cisco Moves Closer to Tandberg Acquisition

Cisco’s bid to take over Tandberg has moved one step closer to reality, as the networking giant said today that it’s gained control of 91.1 percent of the Norwegian company’s shares. The announcement, which came via a filing with the Oslo stock exchange, follows Cisco’s move last month to up its offer to $3.4 billion from $3 billion after shareholders balked at the initial bid.

Tandberg’s video conferencing equipment is targeted at the middle market, making the company a good fit for Cisco and its high-end Telepresence gear. The deal must still get approval from the U.S. Department of Justice, though, which is reviewing the potential acquisition over concerns about potential competitive effects.

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