Cisco completes 3.3 billion dollar takeover deal

Beijing time April 20 Evening news, according to foreign media reports, Cisco announced in Monday, has completed the video conferencing system manufacturer Tandberg (Tandberg) acquisition. Cisco said it had completed an acquisition of 91.1% per cent of its shares, and Cisco would also launch a mandatory takeover of its remaining tradable shares in the future. Cisco will spend 3.3 billion of billions of dollars on the purchase of Tengzhong.　　Fredrick Halvorsen, former CEO of Frederick Hallworsen, will join Cisco as Senior Vice president of Cisco and head of the newly established network Technology group. Marthin De Beer, senior vice president of Cisco's Emerging technology business group, said in a statement: "We believe that the Massing Debill, the next-generation video conferencing system, and Cisco's entire collaborative product line, will drive a new way of working." Through ubiquitous video and face-to-face collaboration, everyone and all places can become more efficient. "Cisco hopes to further penetrate the market as companies gradually use the net-real system to cut travel costs," he said. Cisco last October proposed a 3 billion-dollar takeover of Tengzhong and raised its offer in November.　　The US Justice Department and the European Union approved Cisco's takeover of Tandberg by the end of March this year. Cisco said the acquisition would affect the company's 2010 profit, but would help boost profits in 2011. (D-Gold)