Cisco to Spend $3 Bln on Videoconferencing Company Tandberg

By Geoff Duncan
October 01, 2009

Cisco is sinking its teeth deeper into digital video, making a $3 billion offer to take over Norwegian videoconferencing outfit Tandberg.

Cisco is already a giant name in Internet infrastructure, making a substantial amount of the routers and gear that keeps the buts flowing within and between networks, but the company is also transforming itself into a major player in digital video with offerings ranging from the very high-end TelePresence video conferencing solution, the business-oriented WebEx service, and even consumer video hardware like the Flip digital camcorders a deal to acquire Norway's Tandberg for some $3 billion in cash.

"Cisco and Tandberg have remarkably similar cultures and a shared vision to change the way the world works through collaboration and video communications technologies," said Cisco chairman and CEO John Chambers, in a statement. "Collaboration is a $34 billion market and is growing rapidly—enabled ...

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