Zohar Zisapel ups Radvision stake

The purchase boosts his holding to 27.6%.

Radvision Ltd. (Nasdaq: RVSN; TASE: RVSN) chairman Zohar Zisapel bought 200,916 shares in the company last week at $5.88-6.00 per share for $1.2 million, according to a filing with the US Securities and Exchange Commission (SEC). The purchase boosts his holding to 27.6%. The purchases come after a three-year hiatus.

During 2008, Zohar Zisapel bought $10.7 million worth of Radvision shares at $5.74-7.41 per share. In May 2009, he bought 5% of the company for $7.1 million at $7.30 per share in a special offer to purchase, after an earlier offer to purchase in order to increase his holding in the company to 25% failed. The shares became dormant shares.

Zohar Zisapel's brother Yehuda Zisapel owns 7.2% of Radvision, Ross Margolies owns 9.2% through his hedge fund Stelliam Investment Management LP, and US private equity fund Renaissance Technologies LLC owns 5.1%.

Radvision develops videoconferencing solutions. Last week, the Bristol Royal Hospital for Children in the UK installed the company's telemedicine solution to facilitate remote consultation for fetal and pediatric cardiology patients.

Radvision's share price fell 2.2% on Nasdaq yesterday to $5.85, giving a market cap of $108 million, and fell 1.6% by midday on the TASE today to NIS 21.37. The share price has fallen 35% so far this year.

Published by Globes [online], Israel business news - www.globes-online.com - on August 23, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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