TANDBERG, a global leader in visual communication, yesterday announced the acquisition of Codian, an award-winning developer of high-definition videoconferencing infrastructure products. The transaction, a combination of cash and stock, is valued at $270m (USD).
The acquisition, subject to conventional closing conditions, is expected to close in Q3 2007. Codian´s experienced R&D and sales teams give TANDBERG access to additional resources for accelerating technology innovation and capturing current opportunities within core markets -- videoconferencing and telepresence -- as well as targeting new opportunities in the broader IP communications marketplace.
As a part of TANDBERG´s total solution, Codian´s state-of-the-art infrastructure products will provide customers a robust platform for large scale deployments of high-definition videoconferencing systems. The joint solution will greatly improve video quality and ease-of-use for multi-party conferences, enhancing customer experience and increasing meeting productivity.
Source: Wallstreet-Online