Cisco to Drop Tandberg Acquisition Plan?
Cisco is considering scrapping its plans of acquiring videoconferencing vendor Tandberg, according to a report in Bloomberg.
The proposed acquisition would have made Cisco the largest player in the $34 billion videoconferencing market.
Cisco had announced its intentions of buying Tandberg in the first week of October and was reportedly set to offer $3 billion. The deal, however, ran into problems later with a section of Tandberg stakeholders, who together represent 24% of the company’s stocks, wanting a higher price.
The Bloomberg report quotes sources inside Cisco as saying that the company is considering scrapping the deal instead of raising its evaluation of Tandberg.
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