Cisco to Acquire Tandberg - Part 2

The second research note in WR's three-part series analyzing Cisco's pending acquisition of Tandberg.

On October 1, 2009 Cisco announced a definitive agreement to acquire TANDBERG for 153.5 Norwegian Kroner per share or approximately $3.0 billion in cash. This represents about a 4x multiple on preceding 12 months sales, an 11.0% premium to the previous day closing price of Tandberg’s stock, and a 25.2% premium to the 3-month volume weighted average closing price.

This deal, which we believe is Cisco’s first acquisition of a publicly held company outside the US, is further substantiation of Cisco CEO John Chambers’ belief in the importance of visual collaboration within both the business and consumer environments.

This research note provides insight and analysis into this pending acquisition including WR's thoughts on who will gain and who will lose as a result of this deal.

This is the second in a two-part series covering Cisco's acquisition of Tandberg.

No. of Pages: 
13 Oct 2009
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