UPDATE 1-Radvision signs pact with Microsoft; shares rise

Mon Oct 11, 2010 9:55am EDT

* Says to provide video conferencing systems to Microsoft

* Shares up nearly 8 pct

Oct 11 (Reuters) - Israel-based video and telecommunications company Radvision Ltd RVSN.TA RVSN.O said it signed a deal with Microsoft (MSFT.O) to provide video conferencing systems, sending its shares up as much as 8 percent. Terms of the agreement were not disclosed.

Radvision said it will offer a combination of hardware and software products, which will be integrated with Microsoft Lync, the latter's instant messaging product, which was previously known as Microsoft Office Communicator.

Shares of the Tel Aviv, Israel-based company were up nearly 8 percent at $7.00 in early-morning trade Monday on Nasdaq. They touched a high of $7.05 earlier in the session.

The stock has lost 7 percent of its value since the company reported second-quarter results early August. (Reporting by Swati Chitnis in Bangalore; Editing by Maju Samuel)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.