Cisco plans billion-dollar takeover of videoconferencing firm

4 October 2009

05 October 2009 | Allie Anderson

IT company Cisco Systems has announced plans to buy Norwegian videoconferencing (VC) firm Tandberg in a $3 billion (£1.8 billion) deal.

Cisco, the world's largest producer of computer networking equipment, brokered the cash deal last week in a bid to expand its VC services. Tandberg's products include desktop videophones and conference-room facilities.

The move comes at a time when the VC market is well placed for a boom, with buyers seeking cheaper alternatives to business travel as budgets tighten during the economic downturn (Web news, 28 May).

In addition, as firms push sustainability up the corporate agenda, many see VC as a viable, greener alternative to travel. Last month energy firm E.ON UK said it was replacing some business trips with video-conferencing (Web news, 29 September).

Tandberg's CEO, Fredrik Halvorsen, will head Cisco's new TelePresence Technology Group as part of the deal, which is expected to be finalised next year.

SMoct2009

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