Avaya has finalized the acquisition of Radvision, a leading provider of video conferencing technologies over IP and wireless networks.
Pursuant to the terms of the merger agreement, each outstanding ordinary share of Radvision that was outstanding immediately prior to the effective time of the merger has been automatically converted into the right to receive $11.85 in cash, without interest and less any applicable withholding taxes, for a total transaction amount of approximately $230 million.
Radvision will operate as an indirect, wholly owned subsidiary of Avaya under the Radvision brand. With the close of the acquisition, Avaya is poised to deliver open, affordable, and easy-to-use video collaboration solutions suitable for businesses of any size.
The combined portfolios tackle the expensive, complex, disconnected experiences that often limit broader adoption of video as a business collaboration tool today. Together, Avaya and Radvision will build on the interoperability that exists between the two portfolios today to extend video collaboration inside and outside of the enterprise – regardless of an end-user’s system, location or device.