Ericsson offers $1.4B for Tandberg

Wireless manufacturing giant Ericsson is offering $1.4 billion to acquire IPTV solutions developer Tandberg Television. At $1.60 per share, the offer is 10 percent higher than the bid proposed by Arris Group last month. Ericsson presently owns 11.7 percent of Tandberg and said that shareholders holding an additional 13 percent stake in the company had already agreed to the offer.

"IPTV for cable and telecoms operators is the biggest networked multimedia opportunity going forward," Ericsson president and CEO Carl-Henric Svanberg said in a prepared statement, adding its proposed Tandberg acquisition would create "a leading player in networked media solutions for telecoms, cable and satellite operators as well as media companies."

For more on the Tandberg talks:
- read this Forbes article

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