US-based privately held telecom equipment maker equipment Avaya Inc today agreed to buy Israeli video conferencing company Radvision for $230 million.
Founded in 1992, Nasdaq and Tel Aviv Stock Exchange-listed Radvision is a provider of video conferencing and telepresence technologies over IP and wireless networks.
Along with its channel and service provider partners, Radvision offers end-to-end visual communications that help businesses collaborate more efficiently through video, voice, and data over any network.
Through this acquisition, New Jersey-based Avaya said that it will provide customers a highly integrated and interoperable suite of cost-effective, easy to use, high-definition video collaboration products, with the ability to plug and play multiple mobile devices including Apple iPad and Google Android.
Radvision's SCOPIA Video product line and expertise integrated with the open architecture of Avaya Aura will bridge existing H.323 communications networks and SIP-based environments, delivering scalability and a user experience designed to be intuitive and easy to operate.
Radvision lost its biggest customer, Cisco, in 2010 after the networking giant acquired Radvision's Norwegian rival Tandberg (See: Cisco receives 89 per cent of Tandberg, waives 90 per cent condition).
Under the deal that has been approved by the board of both companies, Radvision shareholders will receive $11.85 per share, valuing the transaction at approximately $230 million.
''With this acquisition we will seek to extend videoconferencing to any device, anytime, anywhere, making it as easy as a phone call, seizing the opportunity to deliver a fully-integrated solution and architecture that we believe sets us apart from the competition," said Kevin Kennedy, president and CEO of Avaya.