Cisco to buy video firm Tandberg for $3 billion
From CNET News.com: Through its latest acquisition offer, Cisco Systems is hoping to grab a bigger slice of the growing video communications market.
Cisco announced Thursday that it will offer $3 billion in cash to acquire Tandberg, a global supplier of video communications equipment.
Based in Oslo, Norway, and in New York, Tandberg provides video networking hardware and software to a wide range of companies looking for teleconferencing and telepresence systems. Tandberg's products range from low-cost desktop tools to high-end conferencing systems.
Cisco has already wet its feet in the worlds of video and telepresence. Two of Cisco's many acquisitions in the last several years--Scientific-Atlanta and Arroyo--furthered the company's grasp of this segment.
But as video becomes increasingly important to enterprise customers, the network giant wants to carve off a greater piece of the multibillion teleconferencing market by integrating Tandberg's technology with its own.
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