RadVision Jumps in Tel Aviv After Avaya Stake Buy Reports

Dec. 14 (Bloomberg) -- RadVision Ltd., 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.

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