Cisco Receives Final Competition Clearance From the European Commission and Declares TANDBERG Offer Unconditional
Cisco Receives Final Competition Clearance From the European Commission and Declares TANDBERG Offer Unconditional
California, April 15, 2010 / WorldPRLine / — Cisco (NASDAQ: CSCO) today announced that the European Commission has approved the appointment of CompetitionRx to oversee commitments made by Cisco to the Commission to promote interoperability in the collaboration market. This represents the final step in the clearance of the acquisition of TANDBERG from the European Commission.
As part of its commitments, announced on March 29, Cisco agreed to divest ownership of its TelePresence Interoperability Protocol (TIP) and the library of open source software useful to implementers of TIP to an independent industry body, as well as the creation of the monitoring role announced today. Cisco will also provide the industry body with all other rights necessary to implement TIP and authorize the industry body to license those rights to any interested party, royalty-free. Cisco launched a website on April 8 providing TIP licensing information.
With the approval of the appointment of CompetitionRx, Cisco has received all regulatory approvals necessary to complete its acquisition of TANDBERG. The acquisition remains subject to regulatory review in Brazil; however, clearance in Brazil is not a condition to closing. Cisco’s offer is now wholly unconditional. Under the terms of the offer, Cisco now has 14 days to close the transaction.
Editor Notes
About Cisco
Cisco (NASDAQ: CSCO) is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com.
Cisco, the Cisco logo and Cisco Systems are registered trademarks or trademarks of Cisco Systems, Inc. and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.
