Cisco Systems has control over more than 90 percent of Norwegian target Tandberg, allowing it to squeeze out remaining shareholders, and create the world's leader in videoconferencing equipment.
Cisco struggled to win over Tandberg shareholders. Its original bid was rejected by over 90 percent of Tandberg shareholders, forcing Cisco to repeatedly extend its offer deadline and raise its bid by 10 percent last month.
Cisco said on Friday it had 89.1 percent acceptance for its 19 billion Norwegian crowns ($3.38 billion) offer in addition to 2 percent of Tandberg, or 2.2 million shares, it bought in November.
They have over 90 percent and can squeeze out the rest, so this deal will happen, said analyst Andre Adolfsen at Nordea.
By 1142 GMT, shares in Tandberg were up 0.6 percent higher at 164.2 crowns.
The companies also said on Friday the U.S. Department of Justice (DOJ) had made a request for additional information about the deal.
Analysts and traders said winning the regulatory approvals for the deal should not cause any problems.
Cisco intends to respond expeditiously to this request and continue to work cooperatively with the DOJ in connection with its review, it said.
($1=5.621 Norwegian Crown)
(Reporting by Richard Solem; Writing by Tarmo Virki; Editing by Dan Lalor and Simon Jessop)