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Local Tech Wire, AP
CHARLOTTE, N.C. – (NYSE: BAC) is expanding its utilization of the TelePresence videoconference product from (Nasdaq: CSCO) and will deploy what the companies call the largest deployment to date.
Financial terms were not disclosed.
Also on Monday, the European Union granted regulatory approval for Cisco’s $3.3 billion purchase of videoconferencing technology firm Tandberg. Cisco made the purchase in December.
Shortly thereafter, the U.S. Justice Department said it would not challenge the Tandberg purchase.
The companies expect the deal to be completed in the next few weeks.
The European Commission approved the deal provided that Cisco make some concessions, and the U.S. Justice Department said it won’t challenge the acquisition in view of Cisco’s commitments to the EC.
Cisco, which employs more than 4,000 people at its campus in Research Triangle park, N.C., said it had agreed to enhance interoperability between its multi-screen video conferencing products and competitive products. It also agreed to appoint an independent monitor, who must be approved by the EC, to oversee the implementation of these commitments.
Bank to add 200 units
The Charlotte-based bank said it would deploy some 200 units by the end of the year.
TelePresence combines real-time high-definition audio and video so people appear life-size and seated around a conference table.’
"This global Cisco TelePresence deployment will help our associates collaborate and integrate even more effectively as we deliver all of our capabilities to customers and clients worldwide," said Bank of America Chief Technology Officer Marc Gordon."This is an example of our commitment to use innovative technology to address real business opportunities.”
The system helps reduce costs and supports more flexible meeting schedules, according to Gordon.
The bank currently uses 28 TelePresence systems.