RadVision Jumps in Tel Aviv After Avaya Stake Buy Reports
RadVision Ltd. (RVSN), the Israeli maker of video-conferencing systems, jumped 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 18 percent to 37.01 shekels, or the equivalent of $9.72, the highest level since April 3, at the 4:30 p.m. close 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.
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