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Vertrieb
Cisco makes a take-over bid for Cisco (Tandberg)
Cisco is offering 153.50 Norwegian kroner for each outstanding share. This corresponds to an extra eleven per cent on top of the closing price for the previous day's business on the Stock Exchange or to 25.2 per cent of the three-month average. Therefore, overall, the take-over bid amounts to around three billion US dollars. The take-over should be completed by summer, 2010. However, exactly when depends on the competition authorities which still need to approve the take-over.
„Cisco and TANDBERGEN share the same corporate culture and the vision of changing international co-operation by video communication technologies", John Chambers, chairman of the board of directors and CEO of Cisco, said. "Even today, the market volume amounts to 34 billion US dollars and thanks to networked Web 2.0 technologies it will grow further.
„Both companies want to change worldwide co-operation and communication among people", Fredrik Halvorsen, CEO of TANDBERG, said. "The take-over offer is sign of trust not only in the trademark TANDBERG but also in our technologies and our staff. The coming together of worldwide trend-setting technologies, Cisco's global orientation and the fantastic staff of both companies will ensure to innovations go ahead and our position on the market is further strengthened."
"This coming together means improved business possibilities not only for Cisco-Cisco (Tandberg) but also for all other manufacturers and the whole market respectively. In the long term, some changes will probably occur. Terminals are going to be cheaper, operating ranges are going to be expanded. Thus infrastructures and integration in Unified Communications will be more important and increasingly complex", Jörg Weisflog, CEO ViDOFON AG, stated.
Additional links
- Video recording of a conversation about the take-over bid between John Chambers, chairman of the board of directors and CEO of Cisco and Fredrik Halvorsen, CEO of TANDBERG: http://www.tandberg.com/investor-relations.jsp
- RSS feed for messages by Cisco: http://newsroom.cisco.com/dlls/rss.html
About TANDBERG
TANDBERG is the world market leader in the fields of telepresence, HD video conferencing systems, mobile video communication solutions and related services. The company develops, produces and sells video conferencing systems as well as the corresponding software and infrastructure. TANDBERG offers distribution, technical support and services in more than 90 countries worldwide and thereby supports organisations in the efficient use of visual communication methods. The company has dual headquarters in New York and Norway and is listed on the Oslo Stock Exchange under the abbreviation TAA.OL. Further information about TANDBERG can be found atwww.tandberg.de.
About Cisco
Cisco Systems, Inc., with head office in San Jose/California, is a global leader in networking solutions for the internet. Further information can be found at http://www.cisco.com. Recent reports are available at http://newsroom.cisco.com.
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