- Video Conferencing
- Media Technology
Technology group AVAYA acquires RADVISIONTechnology group AVAYA has announced their acquisition of RADVISION. The press release indicates AVAYA’s intention to incorporate RADVISION solutions into their own portfolio to improve the flexibility and user friendliness of their own solutions. Below is the (abridged) press release from RADVISION:
TEL AVIV, Israel, March 15, 2012 – RADVISION® (Nasdaq: RVSN), a leading technology and end-to-end solution provider for unified visual communications, announced today that it has entered into a definitive merger agreement with Avaya, a global provider of business communications and collaboration systems and services. Pursuant to the merger agreement, Avaya will acquire RADVISION for cash of $11.85 per share and RADVISION will become a wholly-owned subsidiary of Avaya. The transaction is valued at approximately $230 million. The cash per share represents a premium of approximately 57% over the company's average closing share price during the 90 trading days ended March 14, 2012. The payment will be made to RADVISION shareholders at the time of the closing, without interest and less applicable withholding tax.
Boaz Raviv, RADVISION chief executive officer, commented: “For the past 20 years, the expertise, innovation and commitment of our team has established RADVISION as a major leader in the development of video conferencing technology and solutions. This strategic merger will now combine two industry leaders with a shared passion and vision for creating the most advanced, fully interoperable, high performance/value and easiest-to-use unified communications solutions for a mobile and distributed workforce available to enterprises and service providers today. Joining forces with Avaya will deepen our resources, extend the scope of our channel relationships and make us a formidable competitor in the unified communications marketplace. We are convinced that this is the best way to fully unleash the power of our technology and the talents of our employees while providing substantial value to our shareholders.”
“The opportunity for personal workspace is now, and customers demand a rich, collaborative user experience that is interoperable and easy to use,” says Kevin Kennedy, president and CEO of Avaya. “In addition, we believe this transaction will leverage a highly-skilled, incredibly talented and experienced workforce ready to deliver video to enterprise customers. With this acquisition we will seek to extend video conferencing 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.”
The RADVISION portfolio provides a full range of video conferencing products, technologies and expertise, serving enterprises, small business, and service providers. It includes standards-based applications, open infrastructure and endpoints for ad-hoc and scheduled video conferencing for room-based systems, desktop, and mobile/consumer devices. The integrated Avaya and RADVISION portfolios will extend intra-company business-to-business (B2B) and business-to-customer (B2C) video communications that support bring-your-own-device (BYOD).
Combined with Avaya’s open Avaya Aura® architecture, RADVISION’s SCOPIA portfolio and expertise will bridge existing H.323 communications networks and SIP-based environments, delivering scalability that is intuitive and easy-to-operate.
Avaya is a global provider of business collaboration and communications solutions, offering unified communications, contact centres, data solutions and related services to companies of all sizes around the world.
Founded in 1992, RADVISION (Nasdaq: RVSN) is a leading provider of video conferencing and telepresence technologies over IP and wireless networks. RADVISION teams up with its channel and service provider partners to offer end-to-end visual communications that help businesses collaborate more efficiently. RADVISION propels the evolution of unified communications forward with unique technologies that harness the power of video, voice, and data over any network.
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