Bureau Chief, Helsinki
Ritsuko's Feed
Dec 9, 2009

Cisco targets 12-17 pct growth on firmer economy, M&A

SAN JOSE (Reuters) – Cisco Systems Inc’s <CSCO.O> CEO John Chambers reaffirmed the network equipment maker’s long-term target of 12-17 percent annual revenue growth, citing an economic recovery and expansion into new markets.

Cisco has fallen short of such growth rates in the past year as customers cut back on technology spending, but Chambers, at a financial analyst conference, said conditions had improved in recent quarters.

Dec 8, 2009

Cisco targets 12-17 pct growth on firmer economy

SAN JOSE (Reuters) – Cisco Systems Inc <CSCO.O> Chief Executive John Chambers reiterated the company’s long-term target of 12 percent to 17 percent annual revenue growth, citing an economic recovery and expansion into new markets.

The top network equipment maker has fallen short of such growth rates in the past year as customers cut back on technology spending, but Chambers, at a financial analyst conference, said conditions had improved in recent quarters.

Dec 4, 2009

Cisco set to defend growth target, M&A strategy

NEW YORK (Reuters) – Cisco Systems Inc <CSCO.O> is expected next week to say it can return to double-digit sales growth due to a stronger economy and expansion in high-growth businesses, including the acquisition of videoconference leader Tandberg <TAA.OL>.

Analysts attending Cisco’s financial analyst meeting on Tuesday also look to the company to address concerns that its expansion into consumer products and increasing rivalry with Hewlett-Packard Co <HPQ.N> could dent profit margins.

Dec 4, 2009

Cisco learns lesson as it finally snares Tandberg

LONDON/NEW YORK (Reuters) – Cisco Systems Inc’s <CSCO.O> veteran dealmakers may have learnt some new lessons from their drawn-out pursuit of Norway’s Tandberg ASA <TAA.OL>, the video conferencing leader.

Cisco could be more careful about talking up the benefits of future deals, and thus making it hard to be firm on price.

Dec 4, 2009

Cisco to go ahead with plan to buy Tandberg

NEW YORK (Reuters) — Cisco Systems Inc <CSCO.O> said it plans to go ahead with its plan to buy Norway’s Tandberg ASA <TAA.OL>, paving the way toward creating the world’s leader in video conferencing equipment, although acceptances from shareholders were slightly below its target.

Cisco said about 89 percent of shareholders accepted the 19 billion Norwegian crown ($3.4 billion) deal. That was lower than the 90 percent Cisco had set as a minimum requirement, but the company said it would waive this condition.

Dec 2, 2009

Cisco has 84 pct of Tandberg, won’t extend bid

NEW YORK/OSLO, Dec 2 (Reuters) – Cisco Systems Inc <CSCO.O>
said its bid for Tandberg ASA <TAA.OL> has been accepted by 84
percent of shareholders in the Norwegian videoconferencing
company, and gave a one-day ultimatum to those who have not yet
tendered their shares.

Most analysts said the 19 billion Norwegian crown ($3.4
billion) deal is likely to go forward, creating an industry
leader in videoconferencing, although the acceptance level by
Tuesday was slightly lower than the 90 percent originally set
as a minimum requirement.

Nov 24, 2009

Brocade denies it looked for a buyer

NEW YORK (Reuters) – Brocade Communications Systems Inc’s <BRCD.O> top executive denied on Monday that the network equipment maker was looking for a buyer, disappointing investors who had pinned their hopes on a buyout.

The company’s shares fell 6.5 percent, as its plans to grow through partnerships failed to bolster Wall Street’s confidence in Brocade’s competitive position amid a series of mergers and acquisitions among its peers.

Nov 16, 2009

Cisco ups Tandberg bid, expected to win approval

OSLO/NEW YORK (Reuters) – Cisco Systems Inc <CSCO.O> raised its bid for Tandberg ASA <TAA.OL> 10 percent to 19 billion Norwegian crowns ($3.41 billion), a move widely expected to win over shareholders of the video conferencing company.

Cisco said on Monday its new bid of 170 crowns per share has the approval of holders of more than 40 percent of Tandberg shares, including the top two investors, OppenheimerFunds, which had opposed the original offer, and Folketrygdfondet.

Nov 14, 2009

3Com deal raises stakes in tech M&A battle

NEW YORK (Reuters) – Major technology companies seem to be launching multibillion-dollar acquisitions every other week, and those who don’t join the race may be at risk of getting run over.

Hewlett-Packard Co <HPQ.N> challenged Cisco Systems Inc <CSCO.O> this week by announcing a $3 billion deal for network equipment maker 3Com <COMS.O>. It came after Cisco stepped up its dealmaking and expanded into the server market to compete with HP, IBM <IBM.N> and Dell Inc <DELL.O>.

Nov 12, 2009

HP to buy 3Com for $3.1 billion

NEW YORK/SAN FRANCISCO (Reuters) – Hewlett-Packard Co is making a move into the network equipment market by striking a $3.1 billion deal for 3Com Corp, in a major challenge to Cisco Systems Inc.

The deal is the latest sign that technology giants from IBM to Oracle Corp are increasingly encroaching in each other’s markets as they seek to become one-stop shops for computing, networking and data storage. Cisco itself this year pushed into the server market, of which HP is a major player.