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26 July 2017 22:34 (South Africa)

Cisco will have to spend more for Tandberg

The Daily Maverick reported in early October that the US networking giant Cisco was buying Norwegian video-conferencing group Tandberg for $3 billion. That was a clear sign that in the world strangled by the polluting airlines and huge money wasted on unnecessary travel, Cisco is betting video-conferencing is the way to go (they are already big players in that game). But Tandberg’s board is a tough one and it’s doing what every board should: chase any suitor away until it comes with a final (and they mean final) offer. So they told Cisco to come back with a bigger pile of cash. Cisco obliged on Monday, throwing an extra $400 million on the table. It appears to be enough, for now. Read more: BBC News, Forbes

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