Cisco buys TANDBERG, creates telepresence giant

Cisco plans to acquire its telepresence rival TANDBERG in a $US3billion deal.

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Norwegian videoconferencing vendor TANDBERG is set to become a party of the big, happy, Cisco family after the latter company today tabled a $US3billion offer for the former, which thinks it is a jolly good idea.

We can make this assertion because Fredrik Halvorsen, Chief Executive Officer of TANDBERG says so in the statement issued by Cisco.

“Cisco and TANDBERG share a vision of changing the way people communicate and collaborate,” Halvorsen says. “This transaction is a vote of confidence, not just in TANDBERG but in our technology and our people.  The combination of world-class technologies, Cisco’s global scale, and exceptional people from both organizations will enable us to accelerate innovation and market adoption.”

Cisco Chairman and CEO John Chambers also, unsurprisngly, thinks the deal is a very fine idea, saying it "showcases Cisco’s financial strength and ability to quickly capture key market transitions for growth.”

It seems this transaction is almost entirely welcome on both sides, given the lovey-dovey video (below) the two CEOs have already recorded:

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