PLEASANTON, Calif. ( TheStreet) -- Polycom ( PLCM), a maker of videoconferencing equipment, has been in talks with private-equity group Apax Partners to be taken private.

A deal would value Polycom at more than $3 billion, reports the Financial Times.

Polycom and Apax have been in talks since November. Apax is working toward making a formal offer of $37 a share before the end of March.

Polycom shares rose 43 cents to $30.44 in the regular session on Tuesday.

The deal at Polycom's current price would represent a premium of about 22%.

People close to the situation told the Financial Times a deal could now prove unfeasible given the rise in Polycom's shares since the talks started.

Polycom is the only big independent provider of videoconferencing equipment since Cisco ( CSCO) acquired Norway's Tandberg in December.

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