March 16, 2005. RADVISION
Completes the Acquisition of Millennium Portfolio Company First Virtual Communications,
Inc.
RADVISION (NASDAQ: RVSN) reported that it has completed the previously
announced acquisition of substantially all of the operating assets, intellectual
property and customer contracts of First Virtual Communications, Inc. (FVC) and
its wholly-owned subsidiary CUseeMe Networks, Inc. The closing followed approval
of the transaction by the United States Bankruptcy Court 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 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, CEO 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, 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 Communications
Server 2005, IBM 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
|