AVAYA - FEATURED ARTICLES
May 03, 2012
AVAYA News - RADVISION's Shareholders Approve Acquisition by Avaya
By Meenakshi Shankar, TMCnet Contributor
RADVISION Ltd., a provider of video conferencing and telepresence technologies over IP and wireless networks, conducted an Extraordinary General Meeting of Shareholders and emphasized that its shareholders have approved the terms and conditions of the previously announced acquisition of RADVISION by Avaya (News - Alert) Inc.
Customers demand a rich, collaborative user experience that is interoperable and easy to use. Only way is technology combination. Avaya took advantage of such situation and signed a deal to acquire RADVISION earlier in March 2012. Avaya is a global provider of business communications and collaboration systems and services. Pursuant to the merger agreement, Avaya had agreed to acquire RADVISION for cash of $11.85 per share and RADVISION to become a wholly-owned subsidiary of Avaya. The transaction was signed for an approximate amount of $230 million.
Though the transaction was approved by the Board of Directors of both companies, there was a wait for the approval of RADVISION shareholders, and customary closing conditions. According to law in Israeli, at least 30 days should pass after the approval of the acquisition by the shareholders of RADVISION before the acquisition may become effective. RADVISION and Avaya expect to complete the transaction during the second fiscal quarter of 2012.
RADVISION is continuously innovating and raising the bar in terms of performance, features and pricing for enterprise-grade video conferencing. This strategic merger is believed to combine two industry leaders with a shared passion and vision for creating the most advanced, fully interoperable, high performance/value as well as easiest-to-use unified communications solutions for a mobile and distributed workforce available to enterprises and service providers today.
“For the past 20 years, the expertise, innovation and commitment of our team has established RADVISION as a major leader in the development of videoconferencing technology and solutions,” Boaz Raviv, chief executive officer at RADVISION, said in a press release during the announcement made in March 2012.
Through this acquisition, Avaya 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 (News - Alert) iPad and Google Android.
RADVISION recently announced the expansion of its SCOPIA video conferencing room system portfolio with the introduction of the SCOPIA XT4200 HD video conferencing system and the SCOPIA XT Meeting Center, an all-in-one room system with integrated 55" displays. Both the SCOPIA XT4200 and SCOPIA XT Meeting Center leverage the same technologies as the recently introduced SCOPIA XT5000 HD video conferencing room system.
Edited by Brooke Neuman