RADVISION Acquired by Avaya for $11.85/Share
RADVISION LTD. (Nasdaq: RVSN) 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.
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