Cisco yesterday won regulatory clearance for its proposed takeover of Norwegian video conferencing firm Tandberg.
Cisco is set to acquire Tandberg in a US$3.4bn deal, which was agreed around six months ago. Regulators had been concerned about Cisco’s…
Cisco yesterday won regulatory clearance for its proposed takeover of Norwegian video conferencing firm Tandberg.
Cisco is set to acquire Tandberg in a US$3.4bn deal, which was agreed around six months ago. Regulators had been concerned about Cisco’s growing power on the technology market, but the deal has now been cleared and it could trigger further consolidation in the technology space.
In order for the deal to receive the green light, the European Commission and the US Department of Justice announced that Cisco agreed to open up part of its technology, as both Cisco and Tandberg are active in telepresence.
Cisco agreed in Brussels to hand over some of its technology to an industry body specialising in that field, which will now ensure that other firms operating in the same field can continue to make products which interoperate with Cisco’s, especially so in telepresence.