Cisco Systems, the networking and communication solutions provider, has announced that the company has completed the acquisition of the Norway based video communication technology vendor Tandberg.
Now that the deal has been completed, Cisco will look to expand its product portfolio by integrating it with that of Tandberg.
The company specialises in video conferencing technology and will allow Cisco to tap into the lucrative video based communications market.
Commenting on the completion of the £2.1 billion ($3.3 billion) acquisition deal, Marthin De Beer Cisco's Senior Vice President for emerging technology group, said in a statement that “With the Tandberg product line now available as part of our portfolio through an even wider range of partners, we can offer a far broader number of products for increased interoperability between companies using this technology.”
The company said that it plans to integrate its Telepresence enterprise collaboration system with Tandberg's end-point products to offer a wide range of communication solutions to its customers, which will not only enhance employee productivity but also improve inter-operability among companies.
Interestingly, Cisco's newly revamped Telepresence business lines will be headed by Tandberg's Fredrik Halvorsen, who was previously the company's Chief Executive Officer.
Halvorsen claims that Tandberg's existing customers will be able to get more services out of their investments, now that the acquisition process has been completed.