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Tandberg, Cisco Deal Clears Final Hurdle

The European Commission gave its final clearance for the acquisition of Norwegian video-conferencing company Tandberg ASA by U.S.-based network equipment vendor Cisco Systems Inc.

Cisco, which announced the approval April 12, has 14 days to close the approximately $3.4 billion deal.

The European Commission’s final approval rested on the condition that Cisco¬†divests a protocol it has developed for video-conference solutions to ensure that the merged companies’ video-conferencing products continue to work with those of competitors. The acquisition still needs to be reviewed in Brazil, but Cisco said that review was not a condition of closing.

In October 2009 Cisco made an initial offering of 153.50 Norwegian kroner a share, and later revised the offer to 170 kroner a share, for Tandberg.

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