Tandberg, a leader in visual communication, is to acquire 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 gives 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 infrastructure products will provide customers a 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.
“Customers are increasingly making video the natural, first choice for communication, which in turn is driving the demand for highly reliable and scalable solutions,” said Tandberg Chief Executive Officer Fredrik Halvorsen. “Adding Codian’s talented R&D and sales teams, as well as best-in-class infrastructure products to our total solution, will position Tandberg to capture current market momentum and pursue a leadership role in the larger IP communications marketplace.”