Cisco to Expand Its Video-Conference Room With $3B Tandberg Buy

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Cisco Systems has made a huge play in the video-conferencing industry, acquiring one of the world’s largest makers of such equipment for close to $3 billion. Cisco is acquiring Tandberg for about $26.37 a share in cash — an 11 percent premium over Tandberg’s closing price on the Oslo exchange. The proposal was recommended unanimously by Tandberg’s board of directors, and the deal is expected to close in the first half of 2010 subject to customary conditions. Cisco expects the acquisition to be accretive to its non-GAAP earnings in fiscal year 2011.

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