Cisco Receives Second Request from the U.S. Department of Justice Regarding Proposed Acquisition of TANDBERG
SAN JOSE, Calif., December 3, 2009 - Cisco (NASDAQ: CSCO) today announced that it has received a Request for Additional Information from the United States Department of Justice (DOJ) with respect to its previously announced proposed acquisition of TANDBERG. The request for information from the DOJ, often referred to as a "second request", is part of the regulatory process under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act).
Cisco intends to respond expeditiously to this request and continue to work cooperatively with the DOJ in connection with its review. On October 1, 2009, Cisco announced a voluntary cash tender offer to acquire all the outstanding shares of TANDBERG. Cisco continues to expect the transaction will close during the first half of calendar year 2010.
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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.
This document is Cisco Public Information.
TANDBERG is a registered trademark or trademark in the U.S. and certain other countries. All other trademarks are property of their respective owners.
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding responding expeditiously to this request and regarding the expected timing of closing of the proposed acquisition. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, obtaining a sufficient number of tendered shares of common stock and regulatory approval of the acquisition, the potential impact on the business of TANDBERG due to the uncertainty about the acquisition, the retention of employees of TANDBERG and the ability of Cisco to successfully integrate TANDBERG and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent report on Form 10-Q filed with the SEC on November 18, 2009. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.