Law360, New York (October 01, 2009, 1:12 PM ET) -- Cisco Systems Inc. has said it will offer $3 billion in an all-cash deal to acquire Norwegian video communications company Tandberg ASA.
The companies announced the agreement Wednesday, holding conference calls with investors and putting out a video of both companies' CEOs praising each others' companies and heralding the deal.
“Cisco and Tandberg have remarkably similar cultures and a shared vision to change the way the world works through collaboration and video communications technologies,” Cisco CEO John Chambers said in a statement.
The so-called “collaboration” market...
Cisco To Buy Norwegian Video Co. Tandberg For $3B
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