Cisco buys Tandberg for $3 billion

The offer, worth 153.5 crowns per Tandberg share, represented a premium of 11 percent to its closing price on Wednesday, Tandberg said.

“Tandberg’s board of directors has unanimously decided to recommend to its shareholders to accept the offer,” the company said.

Cisco Systems said Tandberg Chief Executive Fredrik Halvorsen would continue to lead the unit.

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