March 14, 2012 / 2:50 PM / in 6 years

Avaya to buy Radvision for up to $250 mln - reports

TEL AVIV, March 14 (Reuters) - Telecom equipment maker Avaya Holding Corp will buy Israeli video conferencing company Radvision for $200-$250 million, Israeli media reported on Wednesday.

The Globes financial news website said the deal will close in the next few days.

Radvision, whose shares rose 19 percent to 39.39 shekels, said it had nothing to report.

Avaya, which filed in June for a $1 billion initial public offering said it did not comment on speculation.

Radvision shares on Nasdaq rose 11 percent on Tuesday and another 4.3 percent to $10.40 early on Wednesday. It has a market value of $194 million.

The company has faced difficulties in the past two years after Cisco Systems, previously its largest customer, acquired Radvision’s Norwegian rival Tandberg.

In the fourth quarter of 2011, Radvision had revenue of $21.8 million, down from $26.6 million a year earlier. It lost 17 cents per share, excluding one-off items, compared with earnings per share of 16 cents in the 2010 period.

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