Cisco Systems has won its bid to take over Tandberg ASA and now holds 91% of the stock in the Norwegian company, according to the San Francisco Business Times. The $3.4bn acquisition strengthens Cisco's position in the burgeoning market for high-cost videoconference systems known as telepresence. Cisco's telepresence product line is concentrated toward the top of the market, while Tandberg, the second-largest telepresence company, provides them with lower-priced products.