Avaya Inc today said it has signed an agreement to acquire RADVISION Ltd, which provides videoconferencing and telepresence technologies over IP and wireless networks, in an estimated $230 million deal.
In the transaction, which has been approved by both the company's Board of Directors, RADVISION shareholders will receive $11.85 per share, valuing the transaction at approximately $230 million.
The acquisition is expected to close within approximately 90 days assuming the satisfaction of agreed-upon closing conditions.
"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 iPad and Google Android", it said in a statement.
Upon closing, RADVISION's enterprise video infrastructure and high value endpoints will be integrated with Avaya's Aura Unified Communications (UC) platform.
The RADVISION portfolio includes a full range of video conferencing products, technologies and expertise serving enterprises, small business, and service providers.
It includes standards-based applications, open infrastructure and endpoints for ad-hoc and scheduled videoconferencing with room-based systems, desktop, and mobile consumer devices, the statement added.