has sold 140,000 shares of
that it bought in late 1999 for around $1.60 each, for their market price of $19.88 per share. The sale, carried out through
, brought Intel $2.78 million.
Intel is not a substantial shareholder in RadVision, which in Israel means that it did not hold more than 5% of the company's equity.
Before selling, Intel held 158,200 RadVision shares that its investment funds bought in December 1999 at $1.58 per share. Accordingly, Intel made a profit of $18.3 per share. It is expected to post capital gains of $2.56 million.
RadVision went public in March this year at $20 per share. It raised $76 million at a company valuation of $360.5 million. Shares were lately trading at $19.90, reflecting a company valuation of $365 million.
RadVision was established in 1992. It is part of the RAD Group, owned by brothers Yehuda and Zohar Zisapel. The company specializes in IP-based voice, video, picture and data solutions for mobile phones, PDAs and other devices. Its systems enable real-time videoconferencing based on organizational LAN systems. Most of RadVision's products are based on the H.323 standard, which enables phone companies to provide added value services without having to upgrade their communications infrastructure.
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