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| Zisapel sweetens Radvision offer | Published by: Globes
www.globes.co.il
Uriel Herman
31/05/2009
| Zohar Zisapel raised the price on his purchase offer for 5% of Radvision shares.
VoIP equipment marker RADVision Ltd. (Nasdaq: RVSN; TASE: RVSN) shareholder Zohar Zisapel has raised the price on his purchase offer for 5% of Radvision shares to $7.70 from $6.30 per share.
The offer is to buy 917,394 shares.
Zisapel recently acquired 24.5% of the company's shares on the open market. To significantly increase his stake, he has to put out a general purchase offer to public shareholders, since a stake of over 25% is considered a "controlling core" by Israel's Securities Law.
At the beginning of the month, Radvision reported a return to non-GAAP profitability, with a net profit of $600,000.
Last week, Radvision announced that that it was selected to be part of the recently announced Wind River Partner Validation Program. As a partner, Radvision will provide its SIP Developer Suite based on Wind River’s industry leading operating systems (VxWorks and Wind River Linux), and partner technologies critical to telecom and networking equipment providers.
Radivision shares closed on Friday at $7.80, giving a market cap of $152.06 million.
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