RADVISION LTD. : RADVISION Acquired by Avaya
06/05/2012| 03:05am US/Eastern
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RADVISION LTD. (Nasdaq: RVSN), a leading technology and
end-to-end solution provider for unified visual communications, announced
today that it has completed its previously announced sale to Avaya
pursuant to the Merger Agreement, dated as of March 14, 2012, by and
among Avaya Inc., a Delaware corporation, Sonic Acquisition Ltd., an
Israeli company and a wholly owned indirect subsidiary of Avaya, and
RADVISION LTD.
Pursuant to the terms of the merger agreement, which was approved by
RADVISION's shareholders on April 30, 2012, RADVISION has become an
indirect, wholly owned subsidiary of Avaya and each 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
US$11.85 in cash, without interest and less any applicable withholding
taxes.
In connection with the closing, RADVISION has notified the NASDAQ and
the Tel Aviv Stock Exchange of completion of the acquisition and expects
trading of its ordinary shares to be suspended on each exchange pending
delisting of such ordinary shares.
Shareholders who possess certificates for ordinary shares of RADVISION
will receive a letter of transmittal with detailed instructions, along
with other forms, from the appointed paying agent, American Stock
Transfer & Trust Company, LLC, regarding the surrender of their
certificates for the merger consideration. For ordinary shares held in
street name by a broker, bank or other nominee, the broker, bank or
other nominee will handle the exchange of ordinary shares for the
shareholders and will provide them with any relevant instructions for
effecting the exchange. Shareholders should not send their ordinary
share certificates to the paying agent until they receive appropriate
instructions.
About Avaya
Avaya is a global provider of business collaboration and communications
solutions, providing unified communications, contact centers, data
solutions and related services to companies of all sizes around the
world. For more information please visit www.avaya.com.
About RADVISION
Founded in 1992, RADVISION (Nasdaq: RVSN) is a leading provider of video
conferencing and telepresence technologies over IP and wireless
networks. RADVISION teams with its channel and service provider partners
to offer end-to-end visual communications that help businesses
collaborate more efficiently. RADVISION propels the unified
communications evolution forward with unique technologies that harness
the power of video, voice, and data over any network. Visit www.radvision.com,
our blog, and follow us on Facebook, Google+, LinkedIn, Twitter, and
YouTube.
RADVISION
Adi Sfadia, +1 201-689-6340
Chief Financial
Officer
cfo@radvision.com
or
Robert
Romano, +1 512-328-4617
VP Global Marketing
rromano@radvision.com
or
Investor
Relations:
Comm-Partners LLC
June Filingeri, +1
203-972-0186
junefil@optonline.net
© Business Wire 2012
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