Cisco’s buy of Tandberg cleared by EU regulators

BRUSSELS, March 29 (BestGrowthStock) – Cisco Systems (CSCO.O: )
secured EU regulatory approval on Monday for its acquisition of
Norwegian video conferencing company Tandberg (TAA.OL: ) to create
the world’s leader in videoconferencing equipment.

U.S. network equipment maker Cisco took control of more than
90 percent of Tandberg for 19 billion Norwegian crowns ($3.34
billion) last December.

“The approval is notably conditional upon the divestment of
a protocol developed by Cisco for its video conference
solutions, called TIP, to ensure the interoperability of the
merged entity products with those of its competitors,” the
European Commission said in a statement.

Videoconferencing equipment maker Tandberg, which has a 40
percent share of the mid-tier market, fills a gap between
Cisco’s high-end TelePresence conferencing products and WebEx
desktop video service.

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(Reporting by David Brunnstrom)

Cisco’s buy of Tandberg cleared by EU regulators