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Avaya set to buy Radvision for $225m
March 14, 2012 | Hogan Keyser
March 14, 2012 via Globes.co.il -- Avaya PLC (NYSE: AV) is set to acquire video conferencing solutions developer Radvision Ltd. (Nasdaq: RVSN; TASE: RVSN) for $200-250 million. "Globes" reported that the two companies were in advanced talks in December and the deal is expected to be closed today, or at the latest in the next few days.
Over the past few days, Radvision's share has risen sharply, probably due to rumors that the company is about to be sold. Last night the share price on Nasdaq rose 11% to $9.97, giving a market cap of $193.8 million. Trading in the company's shares on the TASE was suspended this morning but was due to resume at 11 am.
Radvision has been up for sale from more than two years after Cisco Systems Inc. (Nasdaq: CSCO), previously its largest customer, acquired the Israeli company's Norwegian rival Tandberg for $3.3 billion in late 2009.
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