Cisco snaps up over 90 per cent of Tandberg shares

Cisco can now legally acquire Tandberg

Cisco has finally bagged over 90 per cent of the shares in Norwegian video products and services vendor Tandberg.

This means the acquisition is likely to go ahead after regulatory hurdles have been cleared.

Cisco increased its offer for Tandberg shares last month, after Tandberg shareholders rejected the initial offer of $3bn (£1.8bn).

This move forced the network giant to put up an extra $400m (£240m) to tempt 90 per cent of Tandberg shareholders to give up their shares, a legal requirement for acquisition.

The quest to acquire Tandberg underlines the importance to Cisco of videoconferencing and telepresence technology.

Having a mid-market offering would allow it to offer videoconferencing and telepresence technology to smaller companies, since Cisco's TelePresence system is aimed at the high end of the market.