RADVISION -TM- Completes Purchase of Substantially All Assets of First Virtual Communications, Inc.FAIR LAWN Fair Lawn, borough (1990 pop. 30,548), Bergen co., NE N.J., across the Passaic River from Paterson; inc. 1924. It is residential with light industries. , N.J. -- RADVISION (Nasdaq:RVSN RVSN Radvision (stock symbol) RVSN Recorded Volume Serial Number (Veritas) RVSN Raketnye Voiska Strategicheskogo Naznacheniya (Russian strategic rocket forces) ) reported today that it has completed the previously announced acquisition of substantially all of the operating assets Operating Assets Another term for working capital. , intellectual property and customer contracts of First Virtual Communications, Inc. (FVC FVC forced vital capacity. FVC abbr. forced vital capacity FVC, n See forced vital capacity. FVC forced vital capacity. (TM)) and its wholly-owned subsidiary CUseeMe Networks(TM), Inc. The closing followed approval of the transaction by the United States Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. for the Northern District of California. FVC filed for protection under Chapter 11 on January 20, 2005. "We believe the combination of the technologies of RADVISION and FVC, including their Click to Meet(TM) communications platform, yields a powerful desktop oriented solution that bridges all uses, whether they are in the meeting room, at the desktop, or on the road into a seamless multimedia communications architecture," said Gadi Tamari ta·ma·ri n. Soy sauce made without wheat. [Japanese.] , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of RADVISION. "FVC has been a pioneer in the desktop conferencing and communications space with an award-winning, web-based solution that offers all of the features necessary for personal multimedia communications. With a track record of over seven years of delivering desktop-oriented communications solutions, FVC developed a large customer base in both the federal and enterprise markets -- a customer base we intend to continue to serve and expand." Killko Caballero cab·al·le·ro n. pl. cab·al·le·ros 1. A Spanish gentleman; a cavalier. 2. A man who is skilled in riding and managing horses; a horseman. , RADVISION's Senior Vice President of Enterprise Strategy, will also head a new division comprising the former FVC assets. Prior to joining RADVISION, Mr. Caballero served as president and CEO of FVC as well as Chief Technology Officer and later the Chairman, President and CEO of CUseeMe, before it was acquired by FVC. He commented: "We have hired a significant number of key FVC employees in every area of the company's operations and welcome them to RADVISION. Our focus now is to deliver seamless service and support to all FVC customers as well as to fully develop the substantial potential of our combined technologies." The assets of First Virtual Communication and its wholly-owned subsidiary CUseeMe Networks, Inc. include contracts and technologies related to providing integrated real-time voice, video, and Web collaboration/communication solutions to enterprises, service providers, and portals. FVC's flagship product, Click to Meet, provides a distributed software-based rich media communications platform and downloadable Web browser-based communications software client that transparently passes through firewalls - making it ideal for consumer, video call centers, and extranet applications. Click to Meet also features tight integration with commonly used enterprise desktop applications and network solutions including Microsoft Outlook, Microsoft Active Directory, Microsoft Office Live Microsoft Office Live is an Internet-based software service designed for small businesses with fewer than ten employees launched on February 15, 2006,[1] and is part of Microsoft's Windows Live initiative. Communications Server 2005, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Lotus Instant Messaging, and IBM Domino directory. Additional information on the acquisition has been posted to the RADVISION website at: http://www.radvision.com/FVC. About RADVISION RADVISION Ltd. (Nasdaq:RVSN) is the industry's leading provider of high quality, scalable and easy-to-use products and technologies for videoconferencing, video telephony, and the development of converged voice, video and data over IP and 3G networks. For more information please visit our website at www.radvision.com. This press release contains forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the industry, changes in demand for products, the timing and amount or cancellation of orders and other risks detailed from time to time in RADVISION's filings with the Securities Exchange Commission, including RADVISION's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. Annual Report. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion