DOJ, European Commission approve Cisco-Tandberg deal

The Department of Justice and European Commission on Monday approved Cisco's $3.4 billion bid for Tandberg, a Norwegian-based video conferencing company.

Ultimately, the deal makes Cisco -- the world's largest video conferencing equipment manufacturer -- also the world's biggest video conferencing service.

According to the European Commission, which rendered a "conditional" approval on Monday, Cisco must still fix a video conferencing protocol that could create "interoperability" issues with its competitors.

Still, all signs seemed to point to a clean, completed $3.34 billion deal between Cisco and Tandberg, which company executives first announced last December.

In a release on Monday, DOJ officials stressed the Cisco deal would not prove anti-competitive.

Citing the European Commission's decision, DOJ regulators "concluded that the proposed deal is not likely to be anticompetitive due to the evolving nature of the video conferencing market."