RADVision, part of Israel's RAD group is conducting a private placement which will give it a cash boost of $3m-$4m. The biggest investor will be Israeli venture capitalist Evergreen, which will purchase 10% of the company for $2m. The rest of the money is expected to come from some or all of the current investors: Yehuda and Zohar Zisapel (33%), senior company employees (15%), Madge Networks NV (10%), Maritime Bank (7%), Clal Venture Capital and ECI Telecom (18%), French and US companies' group (12%) and Intel Corp (5%). The company specializes in technology that facilitates video conferencing from the desktop and voice transmission via IP networks. Customers include VocalTec, Netscape Communications Corp, Philips NV, NetSpeak, Hewlett- Packard Co, Siemens AG, Canadian Nortel and others. Senior sources in the company have indicated that they expect a public issue of shares in mid 1999 after turning a profit during the fourth quarter of this year.
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