UPDATE 1-Cisco exec says offered good price for Tandberg

NEW YORK Nov 2 (Reuters) - A senior Cisco Systems Inc (CSCO.O) executive said on Monday that the company offered "a very good price" for Tandberg TAA.OL, after some shareholders of the Norwegian videoconferencing company said the price was too low.

Ned Hooper, a senior vice president and chief strategy officer at Cisco, said in the company's blog that the $3.0 billion offer reflects the potential value of the deal as well as the risks involved in trying to integrate a European public company into the San Jose, California-based business.

Hooper said the time was right for a Cisco and Tandberg deal, but added: "However, no acquisition should be pursued or completed if it runs counter to the broader principles of prudence and financial fairness." (Reporting by Ritsuko Ando, editing by Leslie Gevirtz)