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Tandberg Television Snares N2 Broadband for $110 Million

Tandberg Television is seeking to make a splash in the North American cable market. A leading British player in the digital video compression business, Tandberg announced an agreement in principle Friday to buy N2 Broadband Inc., an Atlanta-based video-on-demand (VOD) software provider, for an expected $110 million to $130 million in cash and stock. Tandberg officials said the tentative deal would spur their company's entry into the U.S. and Canadian cable markets and broaden their portfolio to include VOD software. They said the pact would also accelerate N2 Broadband's penetration of the European and Asia-Pacific markets. If all goes well, Tandberg and N2 Broadband aim to close the deal by April. Just in case, the two companies have agreed on a $3 million mutual breakup fee.
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