All the latest UK technology news, reviews and analysis

Cisco raises Tandberg bid to £2bn

by Dave Neal

16 Nov 2009

Be the first to comment

  • Tweet this
Cisco
Cisco has offered an extra £400m to Tandberg shareholders

Cisco has raised its bid for videoconferencing firm Tandberg, having said previously that its price was a fair one.

In a possible attempt to speed up the process, Cisco said today that it had raised its offer from £1.8bn to just over £2bn, and that it had the support of 30 per cent of Tandberg's shareholders.

However, Cisco added that it will withdraw its offer completely if this latest bid is rejected, and look for alternatives elsewhere. The company has already described its original offer as "a very good price for Tandberg shareholders".

"Cisco believes that this revised offer remains consistent with the principles of prudence and financial fairness. If Cisco does not achieve the desired level of acceptances, the company will withdraw the offer and evaluate alternative ways to expand our activities in the video communications market," the firm said in a statement.

Cisco has also extended its deadline for a decision from Tandberg shareholders to 1 December.

The firm remains keen to gain a chunk of an expected $34bn (£20bn) a year collaboration market, and apparently will not rest until it makes a purchase.

Do you agree?

 

Add your comment

We won't publish your address
By submitting a comment you agree to abide by our Terms & Conditions. Your comment will be moderated before publication.

Poll

Flame virus poll

Are you confident that the UK's IT infrastructure is secure from attack in the wake of the Flame malware revelations?

25%

1%

11%

63%

Connect with V3.co.uk

Sign up to our daily or weekly newsletters

Riso

Colour printing: why the bill keeps outstripping the budget

The wrong printers, for the wrong tasks on the wrong contracts

Qlikview

Magic quadrant for business intelligence platforms

Who leads the BI pack and who should we be watching out for?

Senior Infrastructure Project Manager

Our highly successful client urgently requires Senior...

Senior Infrastructure Project Manager

Our highly successful client urgently requires Senior...

Senior Infrastructure Project Manager

Our highly successful client urgently requires Senior...

east midlands

Our client, a highly successful and currently market...

To send to more than one email address, simply separate each address with a comma.