Bloomberg News

RadVision Soars to Eight-Month High on Avaya Stake Buy Reports

December 14, 2011

Dec. 14 (Bloomberg) -- RadVision Ltd., the Israeli maker of video-conferencing systems, soared to an eight-month high in Tel Aviv after Globes and TheMarker reported that Avaya Inc. is in talks to buy the company for a premium.

RadVision jumped 14 percent to 36 shekels, or the equivalent of $9.49, the highest level since April 4, at 11:32 a.m. in Tel Aviv. The U.S. traded shares surged 15 percent yesterday to $9.72.

Avaya, a phone-equipment maker owned by private-equity firms Silver Lake and TPG Capital, is close to completing the acquisition of RadVision for $300 million, or $16.17 a share, TheMarker reported yesterday, without saying how it obtained the information. Globes said yesterday the company is in talks to be bought for $200 million, without citing anyone.

Deb Kline, an Avaya spokeswoman, declined to comment on the reports when contacted by Bloomberg. Radvision said it wouldn’t comment on the report in a statement read over the phone.

--With assistance from Joshua Fineman and Felice Maranz in New York. Editors: Claudia Maedler, Shaji Mathew

To contact the reporters on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net; Tal Barak Harif in New York at tbarak@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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