Cisco Systems (CSCO) agrees to buy Tandberg, a Norwegian manufacturer of videoconferencing...

|About: Cisco Systems, Inc. (CSCO)|By:, SA News Editor

Cisco Systems (CSCO) agrees to buy Tandberg, a Norwegian manufacturer of videoconferencing systems, for about $3B in cash - an 11% premium to Wednesday's close and 25.2% higher than its three-month average price. Tandberg's smaller conferencing units will give Cisco a cheaper option to its expensive, room-sized TelePresence systems. CSCO -1.15% premarket.