Posted by: Michael Morisy
Cisco, Jack Bauer, Tandberg, Telepresence, Unified Communications, Video
Where’s Jack Bauer when you need him? The 24 hero and Cisco Telepresence booster could surely help ram through Cisco’s attempted Tandberg acquisition. It would even be a bit poetic, since it’s a 24% minority of Tandberg investors who are nay-saying Cisco’s $3 billion offer.
Of course, it might take more than Bauer’s signature swagger to convince stockholders to sell: Even in the world of high-definition video communications, nothing speaks like cold, hard cash. As Shamus McGillicuddy reports on the Cisco-Tandberg deal at Unified Communications Nation:
According to Reuters (via GigaOm), Swedish brokerage SEB Enskilda has told Cisco that it represents 21 shareholders who own 24% of Tandberg’s stock, and those shareholders want more money. “We think the price is too low,” Amund Lunde told Reuters. Lunde is CEO of life insurance firm Oslo Pensjonsforsikring, which owns 1% of Tandberg, It’s not clear what it would take to win over these holdouts, but clearly Cisco will have to dig deeper to get a controlling interest in the company.
Shamus goes on to note that some management sweeteners might be the reason which top Tandberg executives were so keen to close.