2nd Jul 2014 06:45
LONDON (Alliance News) - Spirent Communications PLC said Wednesday it has agreed to acquire Radvision Ltd's technology business unit for USD25.0 million in cash, funded from existing resources.
Israel-based Radvision, which is owned by the US's Avaya Inc, provides voice and video communications services over the internet and mobile networks, including high-speed 4G Long-Term Evolution networks.
"The addition of Radvision's technology business unit will expand Spirent's test solution portfolio to meet the needs of our customers, from early in the development cycle right through to deployment, helping to save many man-years in development time and cost," said Chief Executive Eric Hutchinson in a statement.
Spirent will maintain the unit's portfolio of products and services, and integrate them into its test solutions segment. California-based Avaya will retain and continue to operate Radvision's video conferencing business.
Spirent said it expects the acquisition to add to earnings and generate cash in its first full year.
For the year to end-September 2013, the technology business unit posted a pretax profit of USD2.7 million, and gross assets of USD4.0 million.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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