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. Follow TheStreet.com on Twitter and become a fan on Facebook.