Avaya, a provider of business communications and collaboration solutions, has agreed to acquire video conferencing technology company RADVISION for $11.85 per share, which means the transaction is valued at approximately $230 million.

The deal was not kept quiet until the last minute, as Israeli newspaper Globes reported that the acquisition was imminent yesterday, albeit without pinning down the correct price tag. Now, the deal is definitely done.

On No Jitter, Zeus Kerravala argues why it makes sense.

The $230 million price means Avaya is paying a significant premium of roughly 57 percent over RADVISION’s average closing share price during the past 90 trading days. The company explains why here, if you’re interested.

Founded in 1992, RADVISION offers video conferencing products, technologies and expertise to companies large and small. Its solutions include standards-based applications, open infrastructure and endpoints for video conferencing for room-based systems, desktop, and mobile/consumer devices (including iPad and Android handsets and tablets).

In late 2009, Cisco acquired RADVISION’s Norwegian competitor Tandberg for $3.3 billion, putting pressure on the Israeli company, which has struggled ever since.

Meanwhile, Avaya is gearing up for a $1 billion IPO.