Done Deal: Avaya Buys RADVISION for $230 Million in Cash
Summary
Avaya, a provider of business communications and collaboration solutions, has agreed to acquire video conferencing technology company RADVISION for $11.85 per share, which means the transaction is valued at approximately $230 million. The deal was not kept quiet until the last minute, as Israeli newspaper Globes reported that the acquisition was imminent yesterday, albeit without pinning down the correct price tag. The $230 million price means Avaya is paying a significant premium of roughly 57 percent over RADVISION’s average closing share price during the past 90 trading days. Founded in 1992, RADVISION offers video conferencing products, technologies and expertise to companies large and small. In late 2009, Cisco acquired RADVISION’s Norwegian competitor Tandberg for $3.3 billion, putting pressure on the Israeli company, which has struggled ever since.
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