Why Cisco wants Tandberg: Video will be boss, Elfrink says
Image 1 of 2 · Next Image…
Related Blog Posts
- Cisco bumps Tandberg offer to $3.4B, extends deadline
- Cisco extends its $3 billion offer for Tandberg; few have accepted offer
On The Web
Site Search
Get the latest news alerts: Follow LTW at Twitter
Local Tech Wire
RESEARCH TRIANGLE PARK, N.C. — Cisco’s globalization boss says the company’s bid to buy Tandberg ASA is important because Cisco (NasdaqGS: CSCO) sees video as “the next killer app,” the Reuters news service reported Wednesday.
Quoting Wim Elfrink speaking at the {{a href=“external_link-1”}}Morgan Stanley Annual Technology, Media and Telecoms Conference{{/a}} that opened Wednesday in Barcelona, Reuters said he told the audience, "Tandberg is going to be very strategic."
Tandberg, a Norwegian company, makes videoconferencing equipment and supporting solutions. A sweetened, $3.4 billion Cisco takeover bid had a Tuesday deadline, and Cisco said it had pre-commitments from owners of 40 percent of Tandberg’s stock before it made that official. It wants 90 percent.
A $3 billion offer that expired last week drew less than 10 percent of Tandberg’s stock and public unhappiness from several institutional holders and financial advisers.
Featured
E-mail Preferences
The Skinny
- Will RTP-based ChannelAdvisor go public? They're thinking
- What brands are winning Super Bowl hype? Two Durham firms to find out
- In Super Bowl of social media, Patriots win, Triangle firm says
- Big job cuts coming at IBM? Don't be surprised
- Erskine Bowles is among those who can cash in big time on Facebook IPO
- Ignore Facebook hype - Check out 'risk factors,' too
- Facebook vs. Google IPO: Which deal ranks better?
- Triangle StartUp Factory says business already booming
- Entrepreneurship remains at heart of Tech Wire mission
- Flashback: Tech Wire launched 10 years ago today