Avaya acquires Radvision
Avaya has bought Radvision.
Avaya has completed its purchase of Radvision, following contract negotiations and business discussions between the two firms.
The combined portfolio is predicted to give Avaya the opportunity to deliver affordable, simple and open video collaboration tools to corporations of every size.
It should enable the firms to expand upon the interoperability shared by their products to enhance their offerings inside and outside of business markets, regardless of the device, system or location held by an end-user.
Each outstanding Radvision share has been automatically converted so the holder of the stock can receive $11.85 (£7.66) in cash, minus any applicable taxes and without interest.
The total value of the deal is estimated at $230 million and Radvision will continue to operate under its old name as one of Avaya's wholly-owned subsidiaries.
This represents a premium of approximately 57 per cent over the average closing share price realised by Radvision throughout the 90 days prior to March 14th 2012.
Posted by Edel Quinn
Source: Radvision press release, June 5th