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July 2, 2014
07:37 EDTSPMYYSpirent Communications to acquire Radvision Technology Business unit
Spirent Communications announced that it has entered into a definitive agreement to acquire the assets of Radvisionís Technology Business Unit, the part of the Radvision business responsible for delivering industry-leading developer solutions, for a cash consideration of $25M, funded from existing cash resources. Based in Tel Aviv, Israel, the Radvision TBU offers a complete development and test suite for Voice and Video over IP communications, including Voice over LTE and is currently part of Radvision, a wholly owned subsidiary of Avaya. Spirent plans to maintain and strengthen the Radvision TBU portfolio of products and services and will integrate them into Spirentís test solutions. Avaya, through Radvision, will retain and continue to operate its video conferencing business under the Video Business unit. The acquisition is expected to be earnings enhancing and cash generative in the first full year, and have a return on investment in excess of cost of capital. For the full year ended 30 September 2013, TBU unaudited financial information showed profit before tax of $2.7M and gross assets of $4.0M. TBU will be reported as part of Spirentís Wireless and Service Experience division. The transaction is subject to customary closing conditions and is expected to close within 30 to 60 days.
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